Liberalizing rural interest rates mulled

时间：2007-06-09 06:04:45

（单词翻译:单击）

June 8 - China's central bank is considering further liberalizing interest rates in rural areas in order to improve financial services.

 

The remark was made by Jiao Jinpu, deputy chief of the research bureau under the People's Bank of China, yesterday at an online interview at the Chinese government website, www.gov.cn, after a netizen in Heilongjiang Province complained that lending rates at rural cooperatives kept surging.

 

According to Jiao, there are two concerns around high lending rates in rural areas.

 

First, due to higher costs and greater risks of granting loans in rural areas, financial institutions must keep lending rates at a certain level to cover costs.

 

Second, rural cooperatives have total control of lending rates because of insufficient1 competition in rural financial markets.

 

"By liberalizing interest rates, more reasonable, balanced rates will be set for both rural borrowers and financial institutions," Jiao said.

 

He said the government supports the establishment of diversified2 financial institutions that solve rural banking3 problems such as low network coverage4, short financial supply and insufficient competition .

 

"The next step is to moderately adjust and lower entrance requirement for rural financial institutions," Jiao said.

 

In late December, the China Banking Regulatory Commission launched pilot program in six provinces, lowering the threshold for financial institutions to operate in rural areas.

 

Under the program, more than 20 village banks, lending companies and rural mutual5 cooperatives have been set up.

 
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1 insufficient L5vxu     
adj.(for，of)不足的，不够的
参考例句：
  • There was insufficient evidence to convict him.没有足够证据给他定罪。
  • In their day scientific knowledge was insufficient to settle the matter.在他们的时代，科学知识还不能足以解决这些问题。
2 diversified eumz2W     
adj.多样化的，多种经营的v.使多样化，多样化( diversify的过去式和过去分词 )；进入新的商业领域
参考例句：
  • The college biology department has diversified by adding new courses in biotechnology. 该学院生物系通过增加生物技术方面的新课程而变得多样化。 来自《简明英汉词典》
  • Take grain as the key link, develop a diversified economy and ensure an all-round development. 以粮为纲，多种经营，全面发展。 来自《现代汉英综合大词典》
3 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
4 coverage nvwz7v     
n.报导，保险范围，保险额，范围，覆盖
参考例句：
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。
5 mutual eFOxC     
adj.相互的，彼此的；共同的，共有的
参考例句：
  • We must pull together for mutual interest.我们必须为相互的利益而通力合作。
  • Mutual interests tied us together.相互的利害关系把我们联系在一起。

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