China keeps loan prime rates unchanged

The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous month’s 3.6 per cent.

The one-year LPR and over-five-year LPR fell by 35 basis points and 60 basis points respectively since the year began, a state-controlled news outlet reported.

Lowered LPRs have kept loan interest rates at historically low levels.

The country's economy reached its annual growth target and expanded by 5 per cent year on year last year, with its gross domestic product reaching 134.9084 trillion yuan ($18.77 trillion), data from the National Bureau of Statistics showed.

ALCHEMPro News Desk (DS)