"High China Interest Rates to Control Inflation" from Financial Feed

"State council's Development Research Center researcher Ba Shusong said the latest rate increase is aimed at reining in inflation expectations and narrowing the gap between gains in consumer prices and savings rates. The target is a one-year deposit rate of 2.75%, 4.55% for five years as opposed to November's 5.1%. Stocks' November Shanghai Composite Index went up to 11% benchmark selloff and jumped to 2.9% on Dec.13.