Along with the liberalization of interest rate of our country, the risk of interest rate becomes one of the major risks of financial market gradually.

随着我国利率市场化的稳步推进，利率风险逐渐成为金融市场的主要风险之一。

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Therefore, how to reduce the transaction cost is also the important step of interest rate liberalization in our country.

因此，如何降低交易成本也就成了我国利率市场化过程中非常重要的一步。

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After the liberalization Chinese main interest rate structure is rediscount of central bank, financial market rate and deposit-withdrawl rate of financial unit.

利率市场化后我国的利率结构主要是中央银行的再贴现率、金融市场利率及金融机构存贷款利率。

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In terms of capital markets, interest rate liberalization and a more market-oriented exchange rate are central.

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This exchange rate liberalization has continued and while the ruble is not a freely floating currency, it is much closer to being one that it was in the past.

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There was also some interest-rate liberalization as Chinese banks are now allowed to lend at a discount of up to 20% below the benchmark, compared with a previous floor of 10%.

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