Newsgroup: it.politica.internazionale
Titolo: China Details Plans to Liberalize Interest Rates and Encourage Private Banks

http://www.nytimes.com/2014/03/12/business/international/china-details-plans-to-liberalize-interest-rates-and-encourage-private-banks.html
 
 
China Details Plans to Liberalize Interest Rates and Encourage Private Banks
By NEIL GOUGHMARCH 11, 2014
 
HONG KONG — The head of China’s central bank and other top financial 
regulators offered new details on Tuesday on the country’s steps toward 
a more market-driven economy, including plans to liberalize interest 
rates as early as next year and to allow the establishment of the first 
privately owned official banks.
 
Although the announcements signaled incremental progress in modernizing 
the country’s financial system and opening its still tightly controlled 
capital account, analysts welcomed the development.
 
China’s leadership under President Xi Jinping laid out a program of 
bold, market-driven overhauls in November, but details on how and when 
these measures would be implemented have been slow in coming.
 
“China’s financial reforms are likely to advance faster than many had 
expected in 2014,” HSBC analysts led by Qu Hongbin, co-head of Asian 
economic research, wrote Tuesday in a research note.
 
Zhou Xiaochuan, governor of the People’s Bank of China, said he expected 
the country to remove its ceiling on bank deposit rates — the last and 
most significant government restriction on interest rates — as early as 
next year.
 
“The final liberalization of deposit rates is the last step of 
interest-rate marketization,” Mr. Zhou told reporters on the sidelines 
of an annual meeting of China’s rubber-stamp legislature, the National 
People’s Congress. “Since many other interest rates have been 
liberalized, deposit rate liberalization is definitely on our agenda. I 
personally believe it’s very likely to be achieved in one or two years.”
 
China moved last summer to lift restrictions on lending rates, leaving 
banks free to charge what they wanted for loans. At the same time, 
policy makers have allowed a surge in Internet companies experimenting 
with the sale of high-yielding financial products that pay ordinary 
Chinese as much as 7 percent annual interest on their investments, a 
development that analysts have likened to de facto interest rate 
liberalization.
 
But China retains a government-mandated cap on how much the nation’s 
traditional banks are allowed to pay on savings deposits. That ceiling 
is set at 3 percent annual interest for benchmark 1-year household 
deposits and as low as 0.35 percent on demand deposits, where many 
savers park their funds.
 
In addition to the potential timeline for ending interest rate controls, 
regulators also signaled progress on Tuesday toward opening the banking 
system up to greater competition.
 
Speaking at the same news conference as Mr. Zhou, Shang Fulin, the head 
of China’s banking industry regulator, announced that the government had 
approved the establishment of five new, privately owned banks by a group 
of investors.
 
While China has some banks that include comparatively low levels of 
direct or indirect government ownership, these institutions tend to be 
smaller and less influential than banks where the state has majority 
control.
 
For example, China’s 12 “joint-stock” banks — China Minsheng Bank being 
the best known — were, on average, 41 percent owned by private capital 
at the end of 2012.
 
Other privately owned financial institutions include foreign-owned 
banks, which face a strict operating environment and have a tiny share 
of the country’s deposits. Much larger — but unregulated, or in some 
cases illegal — are the informal lending syndicates that provide 
high-interest loans to borrowers that have difficulty gaining access to 
bank financing.
 
Indeed, the Chinese government remains by far the biggest shareholder in 
the country’s giant but tightly controlled banking industry, which 
boasted total assets of 151.4 trillion renminbi, or about $25 trillion, 
at the end of December — more than double the level of five years ago.
 
Mr. Shang said the five new nonstate banks would operate under a pilot 
program in Shanghai and Tianjin and in the wealthy coastal provinces of 
Zhejiang and Guangdong.
 
Mr. Shang did not identify the investors behind the planned banks, but a 
statement posted on his agency’s website on Tuesday said the applicants 
included 10 Chinese companies, with the Internet giants Alibaba and 
Tencent prominent among them.
 
In an email Tuesday, a spokeswoman for an Alibaba affiliate focused on 
small- and micro-finance confirmed that Alibaba, China’s biggest 
e-commerce group, was applying for the bank license in partnership with 
China Wanxiang Holdings.
 
Wanxiang, a large, nonstate industrial conglomerate, succeeded last 
month in a $149 million bid to purchase and restructure Fisker 
Automotive, the bankrupt American electric car manufacturer. Last year, 
it acquired the underlying businesses of A123 Systems, a bankrupt 
American manufacturer of batteries for electric and hybrid cars.
 
It was unclear from the comments by Mr. Shang, chairman of the China 
Banking Regulatory Commission, what activities the five planned nonstate 
banks would be permitted to engage in.
 
Patrick Zuo in Beijing contributed research.
-- 
Namib
.....
A lot of people don't have much food on their table
But they got a lot of forks and knives
And they gotta cut something
(Bob Dylan)

 banks would be permitted to engage in.
 
la pianificazione delle banche non statali è un'idea così geniale che poteva venire in mente solo ai compagni del PCC :D

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che seguono a ruota il duce, di cui, ancora una volta, ammiri le politiche economiche.

 che seguono a ruota il duce
 
se stai parlando dell'IRI, è l'ESATTO OPPOSTO di quello che hanno fatto i cinesi. L'IRI nazionalizzava imprese e banche private sull'orlo del fallimento, i compagni cinesi pianificano nuove imprese private (e quindi meno stato).

 se stai parlando dell'IRI, è 
 
legge bancaria 1936.
 
con annessa svalutazione della lira.


che è quella che mise le banche sotto la gestione dell'IRI. CVD, proprio non ci arrivi


falso.
 
ritenta.


E' interessante vedere come la maggior parte qui dentro vive in una REALTA' PARALLELA, in cui non riescono mai a prevedere niente dell''attualita'.
 
Sono sociopatici, luddisti, tourette, i lumpen.
 
Perche' Google non ci offre da possibilta' del killing? :)
 
Poi ci sono quelli che scambiano il Capitalismo di Stato per democrazia - LOL.
 
Illusi fino alla morte.
 
Am.

 i compagni cinesi pianificano nuove imprese private (e quindi meno stato).
 
molto comunista direi :-))