The inclusion will not only be a recognition of China’s ever-rising status in the global economy and financial market, but will also mean that more countries will use the renminbi as one of their reserve currencies, thus further speeding up the renminbi international process.
China has introduced a new housing credit policy, designed to increase demand for real estate, and to get China's economy back onto a fast track for growth.
Aside from lifting the control on deposit rates, China should set a new benchmark rate system to replace the current one-year benchmark rates as a more substantial step toward pushing for the final liberalization of rates.