Briefly

Loan prime rate remains unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.35 percent on Tuesday, unchanged from the previous month, said the National Interbank Funding Center. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.85 percent. The monthly released data is a pricing reference rate for banks and is based on rates of the People's Bank of China's open market operations, which mainly refer to the rate of the medium-term lending facility.

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 90 pips to 7.1325 against the US dollar on Tuesday, said the China Foreign Exchange Trade System.

Xinhua - China Daily