Chinese commercial banks may have to report their average daily loan-to-deposit ratios on a monthly basis from June this year, as the banking regulator specifies regulation on lending activities.
Rating agency Fitch on Tuesday downgraded the outlook on China’s currency debt rating to “negative” from “stable,” and sustained the current rating at “AA-.”
Economists at the International Monetary Fund say growth in China is projected to be robust at 9.6 percent this year and 9.5 percent in 2012.
Chinese yuan continued its upward strength Monday despite a weaker-than-expected trade deficit data recorded in the first quarter, while pressures for yuan’s revaluation are still lingering.
China has posted its first quarterly trade deficit in seven years, with imports rose to a new high, according to the customs data released Sunday.
World Bank Chief Economist Justin Lin said the pace of Chinese currency’s appreciation depends on the country’s inflation situation, which will inevitably influence the government’s decision.
The ceiling for gasoline prices will rise by 500 yuan a metric ton and that for diesel price will increase by 400 yuan and the two largest oil refiners will no longer enjoy refining subsidiaries.
China raised the one-year rates for loan and deposit by 25 basis points from Wednesday, the second of such hikes this year, as the government stepped up efforts to curb inflation.
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