Xi, Putin to jointly meet press after talks

Chinese President Xi Jinping and Russian President Vladimir Putin will jointly meet the press after their talks in Beijing on Wednesday.

At the invitation of Xi, Putin is on a state visit to China from Tuesday to Wednesday.

This is his 25th visit to China.

Xi, Putin to jointly meet press after talks

Xi, Putin to jointly meet press after talks

China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3 percent on Wednesday, the same as the previous month.

The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.5 percent, according to the National Interbank Funding Center.

LPRs reflect the level of financing costs for households and businesses. Lower rates will ease borrowing burdens and boost investment and consumption.

Interest rates on newly issued loans in China have remained relatively low. Data showed that in April 2026, the weighted average interest rate for new corporate loans was around 3.1 percent, about 20 basis points lower than a year earlier, while that for new personal housing loans was 3.1 percent, 6 basis points lower than the same period of 2025.

China will continue to implement a more proactive fiscal policy and adopt an appropriately accommodative monetary policy in 2026, this year's government work report noted.

China's loan prime rates remain unchanged