Interest rate liberalization

10:40, February 16, 2011      

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China has launched a pilot program allowing some banks to set deposit rates of their choosing, another step forward in interest rate liberalization, China Daily reported Tuesday citing sources. China Merchants Bank, and a few city commercial banks that have been included in the scheme, will be allowed to compete for large deposits from corporate clients in a "price bidding" system, the report said.

Source: Global Times
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