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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The financial oppression centering on interest rate control caused a grievous negative reaction in the practice. Many country raised a financial liberalization movement one after the other.

以利率管制为中心的金融压抑在实践中产生了严重的负面效应，各国相继掀起了金融自由化运动。

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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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