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shareholder corporations.[65] By the end of 2006, China had restructured three of its four largest banks and listed them
publicly. China's largest bank, the Industrial and Commercial Bank of China (ICBC) in October 2006 raised US$21.6
billion in the world's largest initial public offering (IPO) in history. ICBC is now the world's second largest bank in
market value, after only Citibank.[66] These highly successful IPOs have helped ease the government's burden and spur
further structural reforms in China's nascent bankingind
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