Sun, 2019-12-29 02:45
BEIJING: China’s central bank will use the loan prime rate (LPR) as a new benchmark for pricing existing floating-rate loans, in a step that analysts say could help lower borrowing costs and underpin economic growth.
Beijing has unveiled a raft of pro-growth measures this year, including tax cuts, more infrastructure spending, and reductions in the amount of cash banks must keep on reserve and lending rates to boost credit.
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