China Keeps Key Lending Rates Unchanged
The National Interbank Funding Center announced Tuesday that the one-year loan prime rate will remain at 3%, while the five-year benchmark stays locked at 3.5%, the People's Bank of China confirmed in an official statement.
These benchmarks—calculated from dividend submissions by 18 commercial banks to the People's Bank of China (PBoC)—have functioned as the nation's authoritative lending references since their introduction in 2019.
Corporate borrowers rely on the one-year rate as their primary loan pricing guide, whereas the five-year benchmark underpins mortgage and property financing across the country.
The decision marks a pause following May 2025's monetary intervention, when authorities trimmed both rates by 10 basis points—reducing the one-year benchmark from 3.1% to 3% and pulling the five-year rate down from 3.6% to 3.5%.
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