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Chinese Banking Regulators Pressing Banks to Cut Deposit Rates

CHINA
  • Reuters reports that China's banking regulators are pressing banks to cut deposit rates, lower the rates of 'innovative' products and cut the size of their structured deposit business.
  • The piece writes that the message comes as part of the country's push to channel savings into productive investments and sees one of China's 'big four' lenders planning to cut personal and corporate rates next week.
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