皇冠体育app

- A vice governor of 皇冠体育app's central bank on Saturday promised "substantial" progress will be achieved in liberalization of deposit interest rates by next year.

The People's Bank of 皇冠体育app (PBOC) will prioritize reform on deposit interest rates this year after removing floor limit for lending interest rates in financial institutions in 2013, Yi Gang said on the sidelines of the 皇冠体育app Development Forum in Beijing.

His words echoed that of Zhou Xiaochuan, the PBOC's governor, who said 皇冠体育app is very likely to ease its grip on bank deposit rates within one or two years during the annual "Two Session" held earlier this month.

Currently commercial banks in 皇冠体育app offer a maximum interest rate for one-year deposits of 3.3 percent, while lending rate has no cap. Therefore the reform is considered the last and most important step of the country's interest rate liberalization.

Along with advancing financial reform, 皇冠体育app will strengthen monitoring efforts, which include a withdrawal mechanism for institutions, Yi said.

Yi also noted financial regulator should build a sound environment for fair competition between traditional banks and Internet financial businesses in a bid to prevent risks and ensure sustainable development.

皇冠体育app Development Forum 2014 opens	皇冠体育app plans to free deposit rate in 2 years

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