PBOC: interest rate liberalization "getting mature"

cctv.com 03-22-2005 11:00

Mortgage and interest rates have taken the spotlight recently. And China's central bank governor Zhou Xiaochuan, at a high-level economic forum Monday said, the conditions for interest rate liberalization in China are "getting mature." Zhou also said that commercial banks should "learn how to make their own decisions" on interest rate changes. For many years, Chinese banks have offered depositors and borrowers fixed interest rates set by the central government. Zhou said it is time for commercial banks to "set interest rates based on their judgment on business risks and knowledge on risk management".

Editor:Chen Zhuo  Source:CCTV.com