BEIJING—China took a key step in its drive to liberalize its financial system on Friday, announcing it would scrap its curbs on lending interest rates.
China’s central bank said Friday that it would abandon the existing floor on lending interest rates, allowing banks to set loan rates by themselves. The move is scheduled to take place on Saturday.
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William Kazer, The Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/r-uQRQqV65U/
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