PBOC's Zhou calls for deposit insurance

China should make the setting up of a bank deposit insurance system a priority to protect savers and help liquidate indebted banks, central bank governor Zhou Xiaochuan was quoted on Monday 18 October as saying.

The government has been talking for years about a deposit insurance scheme that could give ordinary savers a formal line of defence against the collapse of financial institutions, reported Shenzhen Daily.

"We should establish a deposit insurance system that suits China's national situation

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