The Research Of Pushing The Marketization Of Interest Rates For Deposits And Loans On In China

Market-oriented reform of interest rate is a systemic reform for our society, the market-oriented interest rate system is the best suitable interest rate system to the socialist market economic system in the rate of development requirements. Therefore, market-oriented interest rate reform is crucial in the whole financial reform. The central bank opened up lending rates as high as the upper and the lower limit of the deposit interest rates in October 2004, which can be said to be the initial attempt of market-oriented interest rates reform for deposits and loans. The current process of market-oriented interest rate reform has reached acrucial step----the marketization of interest rates for deposits andloans.The problem of China' s market-oriented interest rate reform is that we do not form a basic interest rate for a market benchmark, the ceiling of interest rate for bank deposits and the lower limit of lending rates are under administrative control, resulting in the banks which are the largest profitable main body in the financial market is lack of sensitivity to interest rates, and they can not price in risk. With the formal operation of Shanghai Interbank Offered Rate (SHIBOR), the market-oriented interest rate reform has advanced a step. The formation of SHIBOR is built on the basis of marketization, its change also reflects the interest rate expectations of financial institutions as well as the whole market. SHIBOR can not only make the interest rates of entire money market run to market-oriented level, but have an impact on the deposit interest rate and lending rate which are still under control through its own "reference" and "guiding" role in the actual play, and promote the marketization of interest rates for deposits and loans.This paper from this perspective, along the following idea: SHIBOR becomes China' s market benchmark interest rateâ†'deepen market-oriented interest rate reform furtherâ†'the key step of the realization of interest rates marketization reform for deposits and loans, and discuss the problems that exist in the process. Beginning with the specific aspects of its feasibility, suggest the prerequisite conditions and specific measures to carry out this programme, and learned from the lessons of foreign interest rates market-oriented to draw up the corresponding countermeasures.The first chapter introduced the relevant circumstances of market-oriented interest rate reform in China and other countries, the second chapter analyzed the conditions and the impact of China's deposit-loan interest rate marketization reform, the third chapter focuses on promoting related issues on China' s market-oriented interest rates for deposits and loans, with starting mainly from SHIBOR to analyze how to make SHIBOR become the benchmark rate for deposits and loans so as to promote China' s market-oriented interest rates, the fourth chapter is in the issue of the relevant policy proposals.