The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP
The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP
Economy /  China Economy

China cut interest rates as part of market-oriented reform amid slowing economy

  • China lowered its lending reference rate to 4.25 per cent from the one-year official benchmark of 4.35 per cent as part of a long-term modernisation process
  • The People’s Bank of China’s move offers Beijing a more flexible tool in managing impact from the trade war with US

Frank Tang
Frank Tang

Updated: 11:05pm, 20 Aug, 2019

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The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP
The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP
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