Consensus hasn't been reached on the time that the interest rate marketization reform will be eventually completed, which has long been postponed. ANBOUND research team suggests that given the aging population pressure, there is not much time left for China’s interest rate marketization reform. Interest rate marketization needs to go along with the deepening reform on enterprises that are softly constrained by finance. Interest rate liberalization is just the first step, and the key for reform lies in the leverage role of interest rate in modifying the behavior of each economic entity and the decisive role of market in resource allocation. In this regard, China still has a lot to do, though a lot of time has already been consumed.