China Interest Rate

Last Release

May 20, 2025

Actual

Units In

3.1

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
5.77 Apr 2014	3 May 2025	4.29 %	2013-2025	People's Bank of China

The People’s Bank of China (PBOC) on August 17th, 2019, designated the Loan Prime Rate (LPR) the new lending benchmark for new bank loans to households and businesses, replacing the central bank’s benchmark one-year lending rate. The rate is based on a weighted average of lending rates from 18 commercial banks, which will submit their LPR quotations, based on what they have bid for PBOC liquidity in open market operations, to the national interbank funding center before 9am CST on the 20th of every month.

Latest Updates

The People's Bank of China (PBoC) cut key lending rates to new lows at the May fixing, in line with market expectations and marking the first reduction since last October. The move follows Beijing’s sweeping monetary easing measures announced earlier this month, including interest rate cuts and a major liquidity injection, to bolster the sluggish economy and cushion potential fallout from the ongoing trade tensions with the U.S. The one-year loan prime rate (LPR), the benchmark for most corporate and household loans, was reduced by 10 basis points to 3.0%, and the five-year LPR, which guides mortgage rates, was cut by the same margin to 3.5%. Meanwhile, several of China’s largest state-owned banks also cut deposit interest rates, aiming to ease pressure from narrowing interest margins as the government steps up monetary easing efforts to boost economic activity.