Fitch: China Deposit Insurance Key Precursor to Further Reform

April 1, 2015 8:07 AM

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(The following statement was released by the rating agency) BEIJING/HONG KONG/SINGAPORE, April 01 (Fitch) China's introduction of bank deposit insurance, set for 1 May, is an important precursor to further reforms to the banking system which include full deposit-rate liberalisation, says Fitch Ratings.

An ongoing commitment to pushing through key reforms is indicated by the government proceeding with deposit insurance at this time. Chinese banks are facing rising operational headwinds from slowing growth, margin pressures and weakening asset quality. The reforms could have significant implications...

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