1. Text: | Print|

      China to free up interest rates within two years: PBOC governor

      2014-07-11 08:17 Xinhua Web Editor: Qin Dexing
      1

      China's central bank governor Zhou Xiaochuan reiterated on Thursday that China is likely to have fully liberalized interest rates within two years, but the timetable will depend on economic circumstances at home and abroad.

      "The timetable to liberalize interest rates will be mostly carried out according to conditions of the domestic economy and global economy, but we believe it could be realized within two years," Zhou told a press conference at the ongoing China-U.S. Strategic and Economic Dialogue.

      In March, Zhou said at China's annual legislative session that the country is very likely to ease its grip on banks' deposit rate, the last and most important step of interest rate liberalization, in the coming one or two years.

      At Thursday's press conference, Zhou said the Chinese leadership has stressed "a sense of urgency in reform" and the People's Bank of China is preparing accordingly.

      After the interest rate is freed up, the central bank will have its policy rate play a guiding role in the market via mechanisms on the monetary market, said Zhou, adding that the bank is preparing two or three sets of such tools.

      China has taken incremental steps toward interest rate liberalization, including a central bank decision last July to scrap the floor limit for bank lending rates, and a guideline in December for piloting negotiable deposit certificates on the interbank market.

      As for forex reform, Zhou said the central bank will "significantly cut intervention on the forex market" if targets for forex reform are realized step by step and when the right conditions are in place.

      The international forex market will see some abnormal fluctuations as major countries adjust their currency policies, said Zhou. As a result, China has to be discreet about the spillover effect, he noted.

      Data showed the Chinese currency, the yuan, had appreciated by more than 12 percent by January this year after the central bank deepened reforms to the yuan's exchange rate formation mechanism back in June 2010. However, the currency headed toward months of depreciation against the U.S. dollar after the central parity rate of the yuan hit a new high against the dollar on Jan. 13 at 6.095.

      Analysts have forecast that greater two-way fluctuations of the yuan may become a normal trend in the future.

      "If the market fluctuates too much resulting from short-term opportunistic forces, we will make moves; and if the market is stable, we could speed up the reform a little bit," Zhou said.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 免费无码又爽又刺激高潮的视频| 一级毛片不卡片免费观看| 国产92成人精品视频免费| 在线精品亚洲一区二区三区| 亚洲国产AV无码专区亚洲AV| 国产精品午夜免费观看网站| 亚洲高清无码在线观看| 一级特黄特色的免费大片视频| 国产免费AV片在线观看| 亚洲va久久久噜噜噜久久男同 | 亚洲国产精品18久久久久久 | 四虎1515hm免费国产| 国产成人亚洲综合a∨| 免费在线黄色电影| 国产美女无遮挡免费视频网站| 亚洲AV无码不卡在线播放| 久久精品成人免费观看| 亚洲成人国产精品| 中国好声音第二季免费播放| 女人被男人桶得好爽免费视频| 久久精品国产亚洲AV未满十八| 精品香蕉在线观看免费| 亚洲综合小说另类图片动图| 国产日产成人免费视频在线观看| 一区二区免费国产在线观看| 最新中文字幕电影免费观看| 亚洲成在人线av| 国内精品免费麻豆网站91麻豆| 中文字幕亚洲综合小综合在线| 国产一区二区三区免费| 亚洲国产人成在线观看| 无码国产精品一区二区免费式芒果| 亚洲网址在线观看| 免费在线黄色网址| 97人妻精品全国免费视频| 亚洲免费电影网站| 亚洲AV无码一区二区三区国产| 久久精品视频免费看| 亚洲国产av玩弄放荡人妇| 亚洲女初尝黑人巨高清| 精品国产福利尤物免费|