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Chinese commercial banks have agreed, under a self-disciplinary mechanism, to make the deposit rates offered to corporate clients and nonbanking financial institutions more responsive to changes in policy interest rate benchmarks. On Friday, China's interest rate self-disciplinary mechanism, where banks collectively agree to set deposit rates within certain guidelines, released two self-discipline initiatives to further align deposit rates with policy …

The People's Bank of China. The People's Bank of China, the country's central bank, unveiled the full spectrum of rules aimed at ensuring solid implementation of the measures for supervising and managing nonbanking payment institutions, which were earlier issued by the State Council and took effect on May 1. Yan Fang, head of the PBOC's Payment and Settlement Department, said …

By ZHOU LANXU | China Daily | Updated: 2024-07-27 09:30 The People's Bank of China. The People's Bank of China, the country's central bank, unveiled the full spectrum of rules aimed at ensuring solid implementation of the measures for supervising and managing nonbanking payment institutions, which were earlier issued by the State Council and took effect on May 1. Yan …