//
you're reading...
China Daily Mail


China News

China will take a gradual approach to yuan reform and will not be in a hurry to free up deposit rates offered by banks, as it seeks to rebalance its economy and deepen its financial markets.

Beijing doesn’t plan a one-off revaluation of the currency and will instead allow market forces to determine the yuan’s value, Zhou Xiaochuan, governor of the People’s Bank of China (PBOC), was quoted in a magazine interview.

Banks will soon be allowed to set their lending rates, but liberalising deposit rates will depend on the strength of banks and other lenders, Caijing magazine quoted Zhou as saying.

A flexible yuan and a freer interest rate regime will help Beijing boost domestic demand in the economy, which relies too much on investments and exports at a time when the global economy is battling a slowdown.

“Since we have decided on the gradualism approach (for the yuan)…

View original post 453 more words

About Craig Hill

General Manager at Craig Hill Training Services * Get an Australian diploma by studying in your own country * Get an Australian diploma using your overseas study and work experience * Diplomas can be used for work or study in Australia and other countries. * For more information go to www.craighill.net

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

writer@craighill.net

Join 1,662 other followers

An archive of all my old posts

Follow me on Twitter

I also have a news site about China:

%d bloggers like this: