Tags: interest | rates | IMF | China

IMF Praises China for Deregulating Interest Rates

Thursday, 25 Jul 2013 01:58 PM

The International Monetary fund is welcoming China's deregulation of interest rates and other changes to improve the business climate and encourage small enterprises.

China said last week it was ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. Banks currently lend mostly to state industry rather than to entrepreneurs who create new jobs and wealth. Allowing banks to negotiate their own rates with borrowers could channel more credit to private enterprise.

The ruling party has promised changes to support credit-starved entrepreneurs, including possibly allowing privately owned lenders.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Markets
The International Monetary fund is welcoming China's deregulation of interest rates and other changes to improve the business climate and encourage small enterprises.
interest,rates,IMF,China
97
2013-58-25
Thursday, 25 Jul 2013 01:58 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved