China small and medium-sized banks have lowered their deposit rates

Shanghai Securities News (Chinese state-backed financial media) with the report.

• Small and medium-sized banks have lowered their deposit rates, helping to reduce their liability costs
• believed to be a continuation of the reduction in bank deposit rates at the end of last year
• larger banks, then joint-stock banks, have reduced rates, medium and smaller now following

The article notes:

• Recently, the People’s Bank of China and four other departments jointly issued a notice to promote a steady decline in loan interest rates.

This article was written by Eamonn Sheridan at www.forexlive.com.