China's new deposit rate reform to have limited impact on banks, depositors: Industry body

China's new deposit rate reform to have limited impact on banks, depositors: Industry body

21/6/2021 10:10:00 AM

China's new deposit rate reform to have limited impact on banks, depositors: Industry body

BEIJING: China's reform on banks calculating deposit rates will have only a limited impact on financial institutions and depositors, and banks do ...

BookmarkBEIJING: China's reform on banks calculating deposit rates will have only a limited impact on financial institutions and depositors, and banks do not need to sharply adjust deposit rates, the interest rate self-regulation body said on Monday.

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Ceilings on banks' time deposit rates with maturities of six months or less have risen following the reforms, while ceilings on banks' deposit rates with maturities of more than one year have declined, the body said. Read more: CNA »

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China fossils show new species of extinct giant rhino that roamed AsiaFossils found in northwest China's Gansu province indicate a new species of giant rhino that lived more than 26 million years ago, according to a paper published in the journal Communications Biology on Thursday. The fossils including a skull and two vertebrae found in the reddish-brown sandstone of the Linxia basin shed light on how the ancient rhinos, some of the largest land mammals ever, evolved and moved across what is now Asia. The dispersal of giant rhino fossils - others have been found on the far side of the Himalayas in Pakistan - indicate 'Tibet, as a plateau, did not yet exist and was not yet a barrier to exchange of largest land mammals,' the paper said.

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