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Chinese banks to get more flexibility in setting interest rates

Chinese financial institutions are expected to get more flexibility in setting interest rates on loans and deposits based on market trends and their own business goals, as the central bank moves forward with the market-oriented interest rate reform, according to the message delivered by the central bank.

It's one of major tasks that the People's Bank of China (PBOC) set for 2019, according to a statement released after the central bank' work conference last week.

The PBOC said that it will stick to the target of “converging the two tracks of interest rates”, improving formation, regulation and . . .

 

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