The latest benchmark rates announced by China’s financial authorities have remained unchanged compared to the preceding month.
The loan prime rates (LPR’s) announced by China’s National Interbank Funding Center (全国银行间同业拆借中心) on 20 April were 3.7% for the 1-year LPR and 4.6% for the 5-year LPR, both of which are the same as the LPR’s announced in March.
The LPR in China is the lending rate provided by commercial banks to their highest quality customers, and serves as the benchmark for rates provided for other loans.
The National Interbank Funding Center serves as the designated publisher of the LPR, and releases the figures at 9:30 am on the 20th of each month, after first collecting quotes from the group of reporting banks and calculating the average of these quotes following exclusion of the lowest and highest quotes.