PBOC Lowers Lending Rates Again
As a result of the economic impact of the Covid-19 pandemic, China’s central bank, the People’s Bank of China, has decided to further lower the Lending Prime Rate (LPR) beginning on 20th April 2020. The new rate is 3.85% for 1-year LPR and 4.65% for LPR over 5 years. This is the second decrease in 2020 following the previous one announced on 20th January.