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In Depth: Battle for China’s Deposits Pits Banks Against Regulators

By Ding Feng, Fan Qianchan, Liu Ran and Zhang Yukun
2024年07月16日 20:24
While lenders want to raise savings rates to attract funds, regulators want to lower them to curtail the amount of idle cash in the financial system and protect banking profits
While lenders want to raise savings rates to attract funds, regulators want to lower them to curtail the amount of idle cash in the financial system and protect banking profits.

A tug of war has been going on in China between banks — who are trying to raise interest rates to attract deposits — and regulators — who want them to cut rates to discourage saving and spur spending and investment. Right now, regulators are gaining the upper hand.

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