China rate liberalisation to spur onshore IRS market

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China's approach to economic reform has one high-profile fan: speaking at the World Economic Forum in Davos recently, World Bank president, Jim Yong Kim, spoke of his "tremendous faith" in the current Chinese Communist Party leadership and its commitment to reform in the face of falling growth rates. Kim's comments were in reference to the whole range of economic reforms which were put forward at the Third Plenum of the 18th Central Committee in November including introducing market prices fo