China dramatically shifts interest rate policy
Jun 11, 2012
How China’s loan prime rate can bash the big banks into shape
China’s recent rate reforms need to work hand in hand with other door-opening policies to push its major lenders away from SOEs.
In October, the People’s Bank of China (PBOC) launched its benchmark loan prime rate (LPR), an average rate based on quotes of a panel of China’s nine biggest commercial lenders by assets to their “best customers”.
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