POBC sees gradual move to market interest rates

The People's Bank of China said on Tuesday 1 February that it will proceed with establishing a market-oriented interest rate regime in a series of gradual moves timed to ensure the viability of the commercial banks.

The People's Bank of China said on its website that it plans to unify interest rate policies as it seeks to improve banks' corporate governance and ensure the setting up of an effective monetary policy system.

The report said monetary tools will be used to establish a market-orient