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China moves closer to 'riskiest' step with removal of loans cap

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The People's Bank of China has indicated that a cap on deposit rates is likely to be scrapped in the second half of the year.

Shanghai

CHINA has taken one of its biggest steps in banking reform, moving to end a two-decade-old rule that has capped lending relative to deposits as Premier Li Keqiang seeks to usher in market-based economics.

An amendment to the banking law will remove the 75 per cent limit,

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