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China's central bank has reportedly devised plans for the introducing an insurance system for the purpose of bank deposits, and sources say that the draft rules may be announced soon.China has been considering insuring savers' deposits for the last two decades, but the plans have taken a new sense of urgency in the past year since the country has pledged to deepen economic reforms.There are reports thatthis deposit insurance system may be launched as soon as January andthere are speculations that China is planning to protect its own savers before it couldactually liberalise theinterest rate market.Tags:China central bank,Insurance system,Bank deposits,Draft rules,Deepen economic reforms,Insure deposits

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