CRI听力:Chinese Banks to Issue Certificates of Deposit
2015-06-03来源:CRI
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From Tuesday, individual investors can buy certificates of deposit worth a minimum 300-thousand yuan or about 48,860 U.S. dollars.
At the same time, institutional investors can buy certificates of deposit worth a minimum 10 million yuan.
A certificate of deposit is a time deposit that entitles the holder to receive interest, usually at a higher rate than ordinary deposits.
Interest on the certificates will be mainly determined by the market.
Banks and investors can set a fixed or a floating rate, using the Shanghai Interbank Offered Rate (Shibor) as a benchmark.
For more on the regulation, CRI's Spencer Musick earlier spoke with John Ross, Senior fellow with the Chongyang Institute for Financial Studies at Renmin University.
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