China to work on financial reforms: premier

BEIJING (Reuters) - China will work harder on its financial reforms by allowing more companies to enter the industry and ensuring fair competition, Premier Li Keqiang said on Friday. China plans to build an insurance system for all bank deposits to protect savers' interests, Li reiterated in comments published on the government's website. Ensuring that all deposits are insured in China is seen as a crucial precursor for other financial reforms, such as interest rate liberalization, and senior officials have said repeatedly that such a system would be created "as soon as possible". (Reporting by Koh Gui Qing; Editing by Clarence Fernandez)