Ankara: China kept its benchmark one-year and five-year lending rates (LPR) unchanged on Monday, according to notices by the People's Bank of China (PBoC). The one-year lending rate remains at 3%, and the five-year lending rate stands at 3.5%, aligning with market expectations.

According to Anadolu Agency, the LPR is determined based on the profit margin announcements of 18 banks in China concerning the borrowing rate set by the central bank. This rate has served as the country's benchmark interest rate since 2019. The one-year loan prime rate is primarily used as a reference for corporate loans, whereas the five-year rate is utilized for real estate loans.