China to adjust loan-to-deposit ratios for banks in Shanghai free trade zone

Reuters

SHANGHAI, Sept 29 (Reuters) - Chinese banking regulatorswill adjust loan-to-deposit ratios and other regulatoryrequirements for banks in the Shanghai free trade zone whichformally opened for business on Sunday, a senior bankingregulator said.

Liao Min of the Shanghai branch of the China BankingRegulatory Commission made the comments during a pressconference following the opening ceremony.

The government has said it plans to use the zone, formallynamed the China (Shanghai) Pilot Free Trade Zone, as a test bedfor further reforms in the world's second largest economy.

On Friday the country's cabinet published its officialplanning document for the zone, proposing a range of changesincluding loosening of the state's grip on the currency marketand banking system.

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