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BEIJING, June 24 (Xinhua) -- The State Council on Wednesday approved a draft amendment to China's Banking Law that removed the 75 percent loan-to-deposit ratio, which gives banks more freedom to lend.
The ratio will instead be seen as a liquidity-monitoring indicator, according to a statement released after an executive meeting chaired by Premier Li Keqiang.
The move will enable financial institutions to increase lending to agriculture, small and micro-businesses, the statement said.
