Home / News Type Content Tools: Save | Print | E-mail | Most Read | Comment
PBOC Stresses Stable Interest Rate
Adjust font size:
The People's Bank of China, China's central bank, Thursday said it is appropriate to maintain a stable benchmark interest rate of the Chinese currency, while expanding the trial of a floating rate in rural credit cooperatives.

According to a quarterly report on the monetary policy published, the People's Bank of China said the government should do a better job in implementing its prudent monetary policy in the second half of this year.

In the process of guarding against financial risks, efforts should be made to properly regulate money supply, vigorously optimize the loan structure, help commercial banks establish and improve the incentive mechanism on money business, and strengthen the support of the financial sector to economic development, the central bank said.

The report stresses the need to maintain a proper growth in loans through various monetary measures, including the use of the interest rate as a lever, appropriately broadening the scope of the experiment with a floating interest rate in rural credit cooperatives.

It also calls for a regulation on interbank lending among commercial banks in a bid to resolve the shortage of capital at some branches of certain commercial banks.

The report urges commercial banks to continue to provide loans to individuals for housing and car purchase, education and re-employment.

(Xinhua News Agency August 2, 2002)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China to Maintain Stable Monetary Policy
- Officials Refute Rumors of Slashing Interest Rates
- Interest Cut Aims to Boost Domestic Economy
- Central Bank Moves to Ease Deflation Pressure
- Central Bank Sets up Anti-money Laundering Department
- Central Bank Advised to Keep Interest Rate Steady
Most Viewed >>
- World's longest sea-spanning bridge to open
- Yao out for season with stress fracture in left foot
- 141 seriously polluting products blacklisted
- China starts excavation for world's first 3G nuclear plant
- 'The China Riddle'
- Irresponsible remarks on Hu Jia case opposed 
- China, US agree to step up constructive,cooperative relations
- 3 dead in south China school killing
- Factory fire kills 15, injures 3 in Shenzhen
- McDonald's turns to feng shui

Product Directory
China Search
Country Search
Hot Buys