The highly centralized investment administration under the planned economy had been progressively transformed into a new pattern of diversification of investors, multi-channelling of capital sources and diversification of investment modalities.

• 传统计划经济下高度集中的投资管理模式逐步改变,形成了投资主体多元化、资金来源多渠道、投资方式多样化的新格局。