Beware of fraudulent websites impersonating us. Verify website URLs and legal entity details. Avoid unsolicited emails and report suspicious activity.
Your safety is paramount. Thank you for your attention and cooperation. See more details​

China Holds Rates Steady

China Holds Rates Steady Amid Property Market Boost. China’s benchmark lending rates remained unchanged this month, according to central bank data released on Monday. This decision follows Beijing’s recent aggressive measures to address ongoing challenges in the property sector.

The one-year loan prime rate (LPR) held steady at 3.45%, while the five-year rate remained at 3.95%. This stability was anticipated by economists after the People’s Bank of China (PBOC) opted to maintain key policy rates, including the interest rate on the medium-term lending facility (MLF), which serves as a basis for pricing LPRs, earlier this month.

Despite holding the rates steady, the central bank is expected to ease its monetary stance further. Additional liquidity is needed for the nation’s banks to support government bond purchases, including the issuance of ultra-long special treasury bonds initiated last Friday.

In a parallel move to bolster the economy, Beijing announced new measures last Friday to mitigate the prolonged property-sector downturn. These measures include local governments buying back unsold homes, reducing down payments for potential homebuyers, and removing the floor on mortgage rates offered by banks. China Holds Rates Steady Amid Property Market Boost.

These initiatives aim to stimulate demand in the property market, which has been struggling with excess inventory and decreased buyer interest. By allowing more flexible mortgage rates and lower down payments, the government hopes to encourage more transactions and support overall economic stability.

These combined efforts reflect a broader strategy to manage economic growth while addressing specific sectoral issues, particularly in real estate, which plays a critical role in China’s economy. As the PBOC maintains its current rates, attention will be on how effectively these new policies can revive the property market and contribute to sustainable economic growth.

FPG LIVE SUPPORT

Welcome to FortunePrime Live Support.
Please select how you would like to be contacted.

FPG Live Support

Welcome to FortunePrime Live Support.
Please select how you would like to be contacted.

FPG Live Support

Welcome to FortunePrime Live Support.
Please select how you would like to be contacted.

WeChat: FPG_01

Please add the WeChat FPG_01, or scan the QR code.

WeChat: FPG_01

Please add the WeChat FPG_01, or scan the QR code.