China c.bank says to free up deposit rates when time is right

BOAO, China, April 10 Thu Apr 10, 2014 8:01am EDT

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BOAO, China, April 10 (Reuters) - China will choose a proper time to liberalise bank interest rates, central bank governor Zhou Xiaochuan said on Thursday.

Zhou reaffirmed that the People's Bank of China would gradually exit from regular intervention in the foreign exchange market.

China will further encourage mainland firms to issue yuan bonds in Hong Kong and support Hong Kong firms to issue panda bonds on the mainland, Zhou said. (Reporting by Aileen Wang in Baoao and Kevin Yao in Beijing; Editing by Robert Birsel)

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