Install the interest rate on the initial loans in China

The Chinese People’s Bank (Central Bank) decided, today, Monday, to install the standard interest rates associated with the market at the same level as the previous month. The National Center for Interbank Finance announced the continuation of the initial interest rate of one -year loans at 3% and the interest rate of five -year loans, which many banks use as a basis to determine the interest of real estate financing at the level of 3.5%.

The new China News Agency (Xinhua) indicated that the initial interest rates reflect the levels of financing cost for families and companies, as the continued low interest means reducing the financial burdens on the borrowers and stronger support for economic activity.