2017中国金融市场将更市场化
The People's Bank of China (PBOC), the central bank, said Thursday that the financial market will focus on market-oriented reforms this year.
中国人民银行周四表示，今年的金融市场将着眼于以市场为导向的改革。
"Market-based interest rate reform will be further promoted," according to the China Financial Market Development Report 2016 unveiled on the central bank's website.
Market-oriented interest rate formation, regulation and transmission mechanism will be improved to enhance central bank's regulatory capacity on interest rates, the report said.
The country will also raise the efficiency of the central bank operations, including standing lending facility, medium-term lending facility and reverse repos.
China will also seek further improvement in market-based exchange rate formation mechanism for its currency to increase the flexibility of the yuan's exchange rate against the U.S. dollar, the report said.
"Efforts will be made to actively guide and stabilize market expectations, balance cross-border capital flows, and keep the yuan's exchange rate basically stable at a reasonable and balanced level," it said.