They stimulate competition, and increase the diversity of available financial services, generally at transactional lower costs, improved quality and potentially lower interest rates 4. This in turn positively affects household savings and consumption and the availability of credit to businesses, leading to gains in employment and standards of living.
Yi Gang: The development of Shibor as a market benchmark Speech by Mr Yi Gang, Deputy Governor of the People’s Bank of China, at the 2008 Shibor Work Conference, Beijing, 11 January 2008. *  *  *  Thank you for your presence. Since its launch one year ago, Shibor has made remarkable progress.