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PBOC pledges to optimise China's financial sector

PBOC pledges to optimise China’s financial sector

(30 May 2013 – China) Aiming to allow its financial sector to better serve the wider domestic economy, China is set to liberalise interest rates further this year.

China plans to steadily push market-oriented reform in its interest rates and exchange rates mechanisms this year.

The People’s Bank of China (PBOC) has pledged to further optimise the credit structure to allow the financial sector to better serve the real economy.

The central bank called for market-led steps to carry out innovation to make China’s financial sector more diversified and efficient.

Regulatory controls will also be stepped-up to guard against possible risks.

China will make solid moves to build a deposit insurance system to prevent systematic and regional financial risks, said PBOC.

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