Date
17 August 2018

China may soon roll out deposit insurance, Yicai says

Authorities are close to finishing a draft of the rules for the country’s first deposit insurance scheme, news website Yicai.com reported Sunday, citing Ma Delun, former vice governor of the People’s Bank of China and the president of the Banking Accounting Society of China. Ma stressed the importance of encouraging private capital to go into the financial industry and promoting the development of small and medium-sized banks in order to satisfy the financing needs of small companies. Ma also called for better use of the internet and other innovative means to develop financing channels, the report said.

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