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| Tekijä: | Shang Guanyushi |
| Otsikko: | Promoting the marketization process of our interest rates by using successful experiences (original in Chinese) |
| Lehti: | Research on Financial and Economic Problems (c)
1998 : 7, p.17-19 |
| Asiasana: | INTEREST RATES MONEY MARKETS CHINA |
| Kieli: | chn |
| Tiivistelmä: | China has always implemented a low-interest-rate policy. The interest rates might be negative, sometimes even highly negative. Under the policy of negative interest rates, enterprises are the greatest beneficiaries. Excessively high rate of liabilities leads to excessively heavy interest burdens for enterprises and put the operations of enterprises in a tight spot. Since 1995, the central bank has done some basic preparatory work and launched some initial reforms; as far as the reform of the marketization of interest rates is concerned. The inter-bank market among the head offices of 15 commercial banks started operation in January 1996. The marketization of the issuing rate of government bonds was realized in the same year. However, the reform of the marketization of interest rates still has a long way to go. |
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