China is planning a major financial reform – interest rate
liberalization:
Historical Note:
In the US, interest rate limits on deposit accounts were prevalent for much of the 20th century (Regulation Q, which was in effect between 1933 and 1986, provided the legal backing for interest rate regulation).
It was only during the 1980s that US authorities undertook major financial reforms that led
to full interest rate liberalization.
UPDATE:
UPDATE:
Chinese Currency Trading Band Widened