BEIJING, June 11 China will quicken interest
rate liberalisation and preparations for setting up a deposit
insurance system in 2014, the central bank said on Wednesday.
The People's Bank of China(PBOC) reiterated elements from
its 2013 annual report stating it would keep its monetary stance
prudent, while still making pre-emptive moves to fine-tune
The central bank said on Monday that it will cut the reserve
requirement ratios - the level of reserves banks must hold - for
those that have sizeable loans to the farming sector and small
and medium-sized firms, a move to support the economy the
government had flagged in May.
(Reporting By China Economics Team; Editing by Eric Meijer)