China has basically liberalized interest rate: official

Assistant with governor of the People's Bank of China Ma Delun said December 15 that China had made breakthrough in market-oriented interest rate reform this year and the control on interest rate had been basically revoked.

Ma said that China underwent an unprecedented financial reform this year. After the adjustment in real estate market interest rate , only the ceiling of interest rate for band deposits and the minimum interest rate for loans are still under control now.

By People's Daily Online