Interest rate liberalization will continue

As early as July 2013 and October 2015, the People's Bank of China had liberalized the minimum interest rate for commercial banks and the ceiling for deposit rates. However, from the operation point of view, the "hidden" deposit ceiling rate still exists. Shen Jianguang, chief economist at Ruisui Securities, said that banks still need to be subject to market rate pricing self-regulation. The market expects that the self-regulatory ceiling on deposit interest rates will be liberalized, which means that the implicit ceiling management will be further relaxed, which will further advance the interest rate liberalization.