China bank deposit insurance could tilt competitive landscape

April 1, 2015 10:22 AM

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SHANGHAI, April 1 (Reuters) - China's newly announced deposit insurance scheme could pressure margins at struggling state-owned banking giants, but the country's small lenders still have their work cut out to take market share from the big players.

China's cabinet announced on Tuesday that a long-awaited deposit insurance scheme - covering 99.6 percent of depositors for up to 500,000 yuan ($80,700) each - would be launched on May 1.

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