Central Bank to Monitor Interest Rates in E. China

Home>>Business

Last updated at: (Beijing Time) Saturday, August 09, 2003

Central Bank to Monitor Interest Rates in E. China

DISCUSSION

CHINESE

SEND TO FRIEND

China's central bank is going to introduce an Internet-based interest rate monitoring system later this month in east China's Shanghai Municipality, Zhejiang and Fujian provinces to enable banking institutions to improve their interest rate pricing mechanisms and risk management skills.

A spokesperson for the Shanghai branch of the People's Bank of China (PBC), China's central bank, said the branch ordered banking institutions at prefecture and city levels dealing in Chinese and overseas currencies to report the interest rates of various financial products to the branch.

The products include loans, interbank lending and contracted deposits.

The spokesperson said the system it developed in cooperation with China's Interbank Borrowing Center was capable of processing the data it gathered.

The information would be open to banking institutions for reference on the Internet at the address www.Chinamoney.com.cn, and the branch would also monitor it.

Questions?Comments? Click here

Central Bank to Steadily Promote Interest Rate Reform

PBOC Cuts Forex Interest Rate

RMB Interest Rates Likely to Rise: Chinese Experts

DPRK's Kim Jong Il Elected Member of Parliament ( 2 Messages)

Main Party of China's First Euthanasia Lawsuit Dies ( 2 Messages)

For Whom Does Jackie Chan Feel Pity and Shed Tears? ( 5 Messages)

News Analysis: Bush's Political Fortune to Rise or Fall? ( 4 Messages)

Japan to Be Restored as China's Biggest Tourism Source ( 3 Messages)