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China launches draft rules for insurance of bank deposits

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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.

Beijing

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'

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