July 1, 2019 / 9:06 AM / 3 months ago

China cbank adviser expects PBOC to abolish benchmark lending rate in time

DALIAN, China (Reuters) - A Chinese central bank adviser said on Monday he expects China will eventually abolish its benchmark lending rate, but did not give a clear timeline.

Ma Jun told reporters on the sidelines of the World Economic Forum in Dalian that the loan prime rate should reflect changes in the policy rate in the future.

(This story corrects to add dropped word “not” in first paragraph)

Reporting by Kevin Yao and Li Zheng; Writing by Se Young Lee; Editing by Kim Coghill

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