Briefly

Loan prime rates remain unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, was 3.1 percent on Thursday, 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. Analysts believe that keeping the LPR unchanged this month helps stabilize the yuan exchange rate and mitigate interest rate risks, but looking ahead, there is still room for further LPR cuts.

Passenger car industry sees stable growth

China's passenger car industry maintained steady growth in both output and sales in January, industry data showed. Last month, the passenger car output logged a year-on-year increase of 3.3 percent to stand at 2.15 million units, while its sales ticked up 0.8 percent to 2.13 million units, according to the China Association of Automobile Manufacturers.

Xinhua - China Daily