The People's Bank of China plans reform to marketize deposit rates, though it is not definite the related policies will be issued by the end of this year, the central bank's vice-governor Pan Gongsheng said on Tuesday.

Pan stressed that the choice of the right moment will depend on further financial reforms and the micro-economic situation, Securities Times reported.

The government removed the cap for lending rates last year.

China frees bank lending rates on reform agenda

Non-resident yuan deposits reach 1.36 trl yuan