China central bank to lean more on interest rates - paper

BEIJING - China's central bank will in future rely more on interest rates to control the economy, a newspaper on Tuesday quoted its governor as saying in remarks that suggested less reliance on administrative measures.

"As the economy grows, micro controls will pay attention to relying more heavily on interest rates," central bank Governor Zhou Xiaochuan said in remarks carried in the China Securities Journal.

Zhou also repeated earlier official comments that under plans to reform the currency at some unstated time the yuan would float more widely than it does now.

- REUTERS