China may scrap floor for interest rates this year: media

China may remove its floor for interest rates as early as this year or next year at the latest, Chinese media said on Thursday, an important step towards freeing the country’s tightly-controlled interest rates market.

Ba Shusong, a researcher at the Development Research Center, a think-tank whose recommendations to China’s cabinet are sometimes adopted, was quoted by local media as saying that interest rate reforms are imminent.

via Business feed http://www.scmp.com/business/banking-finance/article/1244043/china-may-scrap-floor-interest-rates-year-media