Briefly

Loan prime rates remain unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.1 percent on Wednesday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 percent, according to the National Interbank Funding Center.

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 24 pips to 7.1935 against the US dollar on Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The rate is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua - China Daily