China frees deposit rates in Shanghai
China’s central bank has lifted controls on foreign currency deposit rates in Shanghai, opening up rate competition beyond the walls of the FTZ.
In an announcement made by the People’s Bank of China Shanghai Head Office (PBOC) today (June 26), banks outside of the Shanghai free trade zone (FTZ) but based in Shanghai Proper (China’s banking hub) will be able to offer their own rates on small-sum foreign currency deposits, effective tomorrow.
Sign in to read on!
Registered users get 2 free articles in 30 days.
Subscribers have full unlimited access to CorporateTreasurer.
Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.
If you are a treasurer, CFO or senior professional at a corporate or SME, please register for free VIP access here.
Questions?
See here for more information on licences and prices, or contact [email protected].
© Haymarket Media Limited. All rights reserved.
Top news, insights and analysis every Tuesday & Thursday
Free registration gives you access to our email newsletters
for unlimited access to all articles, newsletters
