Skip to Content Facebook Feature Image

China's loan prime rates remain unchanged

China

China

China

China's loan prime rates remain unchanged

2025-03-20 10:26 Last Updated At:14:47

China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.1 percent Thursday, remaining unchanged from the previous month, the National Interbank Funding Center announced on Thursday.

The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 percent, according to the center.

The LPRs reflect the level of financing costs for households and businesses, with lower rates meaning less burdens on borrowers and stronger support for economic activity.

In 2024, the People's Bank of China (PBOC), the central bank, guided the LPR downward while implementing two reductions in both the reserve requirement ratios (RRRs) and policy interest rates to help sustain economic recovery.

The latest official data show that the weighted average interest rate for new business loans fell to about 3.3 percent in February, down 40 basis points from a year earlier, while the rate for new personal mortgages dropped to around 3.1 percent, a decline of 70 basis points.

According to this year's government work report approved at an annual session of the National People's Congress earlier this month, China has decided to adopt a moderately loose monetary policy.

The central bank will cut RRRs and interest rates when appropriate this year, in line with domestic and international economic and financial conditions, as well as the performance of financial markets, PBOC governor Pan Gongsheng told a press conference in early March.

The average RRR for China's financial institutions now stands at 6.6 percent, offering room for further reduction, Pan said, adding that there is also room to lower the interest rates of structural monetary policy tools, which provide liquidity support to commercial banks.

China's loan prime rates remain unchanged

China's loan prime rates remain unchanged

Next Article

China sends 11th group of medical experts to Ethiopia

2025-05-17 22:01 Last Updated At:22:37

A Chinese medical team left China on Saturday heading for Ethiopia, where they will offer technological assistance and support to talent development in the country's healthcare sector over the next 12 months.

The 14-member team includes experts in clinical medicine, medical technology, hospital administration, and logistical support.

Mainly selected from the First Hospital Affiliated to the Army Medical University (AMU) in southwest China's Chongqing Municipality, the team members possess extensive experience in medical practice and management.

During the mission, the experts will help the country's military hospitals to enhance medical service capacity, promote the application of new technologies, strengthen hospital operations, train professional personnel, and support the establishment of healthcare management systems, thereby contributing to the improvement of local medical services.

"I feel deeply honored by this mission, and I'm fully aware of the responsibility it carries. We are committed to carrying forward the spirit of China's overseas medical teams, which features tenacity, dedication, commitment to saving lives, and love that knows no borders, and will apply our skills for the benefit of the Ethiopian military and civilians," said team member Guo Hao from the AMU.

Since 2015, the AMU hospital has dispatched 11 batches totaling more than 100 medical experts to Ethiopia.

Their efforts gave strong support to achieving notable progress in medical facility construction, and technological and talent development in the country's healthcare sector.

China sends 11th group of medical experts to Ethiopia

China sends 11th group of medical experts to Ethiopia

Recommended Articles