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. Last Updated: 07/27/2016

PLA Out Of Business

BEIJING -- China's armed forces completed the handover of their vast commercial holdings to civilian control Monday in a reform meant to curb corruption and help modernize the military, state media reported.

Starting Tuesday, the military's and the armed police's businesses will be handled by multiagency task forces, state news agency Xinhua reported.

The 2.9 million-member PLA runs an estimated 15,000 businesses that as of a few years ago covered a third of the military's operating expenses.