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China launches draft rules for insurance of bank deposits

All banks under the system will be required to set aside capital, to be collected by China's central bank and administered by a deposit insurance fund, to pay for the scheme.


CHINA on Sunday issued draft regulations to introduce a bank deposit insurance system for the first time, the latest in a series of steps that pave the way for liberalising lending rates.

The draft rules, issued by the Legislative Affairs Office of the State Council, China'