“Interest rate reforms are part of a broader effort of China’s new leadership to steer the world’s second-largest economy towards a growth model that relies more on domestic consumption and gradually scale back controls and directives and allow market forces to play a greater role. The introduction of NCDs may have limited immediate impact, but the pilot is widely seen as a heralding the eventual dismantling of controls on bank deposits rates. The sources said that permission for NCDs will be expanded to other banks and non-banking institutions, paving the way for launching certificates of deposit for corporate and individual investors.”
http://www.reuters.com/article/2013/08/22/us-china-economy-reform-idUSBRE97L0EY20130822
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Colorado manufacturer threatens to leave state if gun bill passes
U.S. transport ship with hundreds of Marines deployed to the Mediterranean
Indianapolis "Officer of the Year" attacks man in under 16 seconds of conversation
Feinstein insists NSA’s massive snooping operations are ‘not surveillance’
Wall Street Predicts $50 Billion Bill to Settle U.S. Mortgage Suits
A million engineers in India struggling to get placed in an extremely challenging market
The Southern Poverty Law Center Scam
European Car Sales Jump As ECB Stimulus Takes Effect
Swiss banks devise new 'cash' strategies for clients
Iranian Military Chief: 'We Will Support Syria To The End'
Bitcoin needs to scale by a factor of 1000 to compete with Visa. Here’s how
Ron Paul: Why Aren’t We Talking About the Cost of War in Syria?
Archaeologists use revolutionary laser technology to find lost medieval city in Cambodia
Gold prices near lows of the year
Greek government loses track of, asks again for stolen Swiss account data