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Chapter 1 Introduction
1.1 Research background
Since the reform and opening up, China's steel market has experienced three distinct periods, first is the planned economy period since the reform and opening up, followed by the "dual system" run times in 1984, and the last is completely market-oriented period, in which the "dual system" is a transitional period from a planned economy into market economy (Wu, 2000). China's steel market is evolving at different times, has formed its own unique characteristics, and caused a profound impact on steel producers.

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