Central Banking

China eyes capital market reforms

China has succeeded in curbing investment and credit growth, and the priority now is to free up interest rates, People's Bank of China deputy governor Li Ruogu said in remarks that may signal long-awaited capital market reforms are drawing nearer.

The remarks by Li Ruogu, deputy governor of the People's Bank of China, came as August retail sales data showed a 13.1 percent rise from a year earlier, a bit weaker than expected but strong enough to reassure economists that consumption is cushioni

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