On July 1,1994, the privatization cheque had become invalid and the first stage of the privatization in Russia ended. This year was also a turning point in the privatization process in Khabarovsk Kray. By the end of 1994 about 90 per cent of small economic units, such as shops and
service estblishments and over 60 per cent of industrial units have been privatized. There non-state-owned enterprises in mixed ownership have become closing to one fourths of all enterprises, and producing three fourths of the amount of industrial products and also of consumption
goods. Sturucutral differences in privatization among the regional administrative units in Russian Far East can be found. For instance, concerning enterprises in mixed ownership the share of the amount of industiral products in 1994 were 33 per cent in Sakhalin Oblast' and 68
per cent in Primorskiy Kray. The problems of the second stage of privatization are how to privatize large industrial units as the hard core of state ownership, such as enterprises of defence industry, and how to manage and control the enterprises in mixed ownership.