In the News: Loan Rates Cut; Lingang Development Plans; and Benchmarks for Administrative Discretion

August 24, 2022 | BY

Hugo Yeung

Loan prime rates slightly lowered; 3-year development blueprint for the Lingang Free Trade Zone unveiled; New rules on exercise of administrative discretion

Credit: ALM

Loan Prime Rates Lowered

On August 22, the People's Bank of China (PBOC)lowered the one-year and five-year loan prime rates (LPR).

The one-year LPR was lowered from 3.7%