The move signals a more market-oriented interest rate system in China.
More Quotes from Wu Yonggang:
Investors are going after Merchants Bank stock as the revised plan is better than expected.Wu Yonggang
China has speeded up the overhaul of its banking sector to improve corporate governance and debt quality. Efforts include pouring funds into bigger, healthier players and encouraging them to go public overseas.
Wu Yonggang
The PBOC is very prudent about making any more changes to the interest rate. It is nearly impossible to reduce the rate when it already stands at such low a level.
Wu Yonggang
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Based on Keywords: market-orientedPraise us as we are tasted, allow us as we prove.
William Shakespeare
Men are not allowed to think freely about chemistry and biology: why should they be allowed to think freely about political philosophy?
Auguste Comte
He that shuns trifles must shun the world.
George Chapman