China Lifts Cap on Life Insurance Interest Rate
时间：2018-12-19 作者：英语课 分类：世界各地新闻集锦
英语课
The 2.5 percent pre-determined interest rates attached to life insurance products here in China have been scrapped 1.
The move is the latest effort by central government to liberalize the country's interest rates.
The People's Bank of China has already loosened its grip on bank lending rates.
Under the new regulations, insurance companies can set their own rates to a maximum of 3.5-percent.
The rigid 2 2.5 percent cap left much of the insurance products on offer here in China much the same.
To prevent a policy-triggered price war in the insurance business, the China Insurance Regulatory Commission has also rolled out accompanying measures.
They include policies to boost old-age pension business and moves to support risk prevention.
For more on the issue, CRI's Paul James spoke 3 earlier with Mark Huges, Executive Business Editor of China Daily.
The move is the latest effort by central government to liberalize the country's interest rates.
The People's Bank of China has already loosened its grip on bank lending rates.
Under the new regulations, insurance companies can set their own rates to a maximum of 3.5-percent.
The rigid 2 2.5 percent cap left much of the insurance products on offer here in China much the same.
To prevent a policy-triggered price war in the insurance business, the China Insurance Regulatory Commission has also rolled out accompanying measures.
They include policies to boost old-age pension business and moves to support risk prevention.
For more on the issue, CRI's Paul James spoke 3 earlier with Mark Huges, Executive Business Editor of China Daily.
1 scrapped
废弃(scrap的过去式与过去分词)； 打架
- This machine is so old that it will soon have to be scrapped. 这架机器太旧，快报废了。
- It had been thought that passport controls would be scrapped. 人们曾认为会放开护照管制。