Sunday, 22 September 2019 02:12 GMT
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Loan prime rate in China stands at 4.25 percent




(MENAFN)

The national interbank funding center of China has said on Tuesday that the yearly load prime rate (LPR) stood at 4.25 percent, which is the first quotation after the country reformed the lending rate mechanism.

The new above five year loan prime rate was 4.85 percent.

Announced in 2013, the LPR works as a market based reference for lenders to assign their loan interest rates.

The central bank announced a plan to develop and reform the LPR mechanism to decrease financing costs for the real economy.

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Loan prime rate in China stands at 4.25 percent

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