Text: | Print|

China to free deposit rates in coming one or two years

2014-03-11 09:48 Xinhua Web Editor: qindexing

China is very likely to ease its grip on banks' deposit rate in the coming one or two years, central bank governor Zhou Xiaochuan said on Tuesday.

Zhou made the remarks at a press conference on the sidelines of the National People's Congress, China's top legislature.

His comments came after an earlier government report said China is to establish a deposit insurance system this year, the last and most important step of interest rate liberalization.

China has taken incremental steps toward interest rate liberalization, including a central bank decision in July to scrap the floor limit for bank lending rates, and a guideline in December for piloting negotiable deposit certificates on the interbank market.

2014 Two Sessions

Comments (0)
Most popular in 24h
  Archived Content
Media partners:

Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.