Better regulation
By Feng Jianmin |
May 17, 2012, Thursday
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Print Edition
Print Edition
THE Wenzhou branch of China's central bank yesterday said it will publish the average interest rate offered by private lenders in the city in Zhejiang Province, from this month.
The move will help regulate private lending in the city, and will serve as a guideline for financial reforms. The branch has monitored private lending rates since 2003, and analyses more than 600 transactions a month covering open and underground money markets.
The average interest rate for direct borrowing was 17.75 percent in April, 0.21 percentage point lower than a year earlier and 0.36 percentage point lower than March, the branch said.
The move will help regulate private lending in the city, and will serve as a guideline for financial reforms. The branch has monitored private lending rates since 2003, and analyses more than 600 transactions a month covering open and underground money markets.
The average interest rate for direct borrowing was 17.75 percent in April, 0.21 percentage point lower than a year earlier and 0.36 percentage point lower than March, the branch said.
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