The Central Bank reduces interest rate reserve to lead the State Council to deci

Chinese people bank decides: Reduce deposit since October 15 kind reserve of deposit of financial orgnaization RMB leads 0.5 percent; to be reduced since October 9, 2008 one year period the RMB puts loan standard interest rate each 0.27 percent, other time class puts loan standard interest rate is made adjust accordingly. (Origin: Xinhua net)

Decision of the State Council is avoided to of short duration of income of deposit deposit interest impose individual income tax

Concern a provision according to law of individual income tax, the State Council decides to rise from October 9, 2008, to deposit of short duration of deposit interest income is avoided impose individual income tax.

Since China restores to impose individual income tax to income of deposit deposit interest from November 1, 1999, encouraging consume and investment, reasonable adjustment individual income, increased the respect such as finance income to produce positive effect. Be aimed at the new case that current China socioeconomy faces, to deposit of short duration of deposit interest income is avoided impose individual income tax, be helpful for increasing profit of individual deposit deposit, accord with a country the need of macroscopical adjusting control. (Origin: Xinhua net)

The financial orgnaization RMB that next watches announce for the Central Bank puts loan standard interest rate is adjusted express and reserve ratio deposits money to adjust a watch since this year.

Before adjusting

After adjusting

Adjust range

One, deposit () current deposits money

0.72

0.72

0.00

(2) time deposit

3 months

3.33

3.15

- 0.18

Half an year

3.78

3.51

- 0.27

A year

4.14

3.87

- 0.27

2 years

4.68

4.41

- 0.27

3 years

5.40

5.13

- 0.27

5 years

5.85

5.58

- 0.27

Each borrow money

6 months

6.21

6.12

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