China boosts asset funding with first cut in key lending rate since June

An employee counts Chinese yuan in the personal finance business service area of ​​a bank, in east China's Jiangsu province, on September 15, 2023.

CFOTO | Future release | Good pictures

China's lenders cut the country's key five-year lending prime rate for the first time since June, extending Beijing's efforts to revive the country's anemic property market.

China's central bank kept its one-year lending prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The key five-year mortgage rate — the peg for most mortgages — was cut by 25 basis points to 3.95%. Tuesday for a report From the People's Bank of China.

Latest articles

Related articles