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Chinese banks look to SME loans, transaction banking to spur growth

Chinese banks’ soaring profits may soon be a thing of the past since the nation started liberalising its interest rates last June, which continues to erode their earnings.
Chinese banks look to SME loans, transaction banking to spur growth

More than 60% of 850 bankers in China believe Beijing’s move to scrap the ceiling for deposit interest rates poses a negative impact on their businesses in the coming three to five years, according to a survey conducted by PricewaterhouseCoopers (PwC) and the China Banking Association between April and June last year.

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