1. China will push forward measures to make interest rates more market-oriented, enabling the financial sector to better serve the economy, according to a statement released after an executive meeting of the State Council, China's cabinet, presided over by Premier Li Keqiang on Wednesday. The benchmark deposit and lending rates will continue to be used as reference and guidance tools, the statement said. To prevent irrational pricing of interest rates, the government will enhance supervision and continue to set different reserve requirement ratios for different institutions. China will also further steady growth of the industrial sector and boost industrial restructuring, and expand domestic demand, the statement showed.
2. The State Council unveiled a guideline for reforming management of the country's colossal state-owned assets on Wednesday. The guideline specifies plans to establish investment firms to manage state-owned capital and restructure state-owned enterprises (SOEs). The country will also eliminate outdated and excessive capacity of SOEs and dispose of inefficient assets. State capital will be removed from some SOEs, while others will be restructured or upgraded on the basis of innovation.
Latest comments