PBoC commits to more market reform

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The People's Bank of China (PBoC) today reiterated the importance of interest rate and capital account reform as it looks to hand markets a "decisive role" in resource allocation in the country and promote "sustainable" economic development.

Central Banking Publications crowned the PBoC as the winner of its inaugural Central Bank of the Year award earlier this month, partly because its officials have "worked tirelessly" to push through reforms during times of political and economic uncertainty.

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