Experts assume that China will not be able to maintain GDP growth in the long term.
(Photo: AP)
Beijing China has again cut a key interest rate to stimulate the economy. On Thursday, the People’s Bank of China (PBOC) lowered the reference rate for one-year loans (LPR) by 0.1 percentage point to 3.7 percent. The interest rate for a five-year term also fell by 0.05 percentage points to 4.6 percent.
Loans with a five-year term relate, among other things, to real estate loans. The sector has come under severe pressure over the past year after the Chinese government imposed tighter debt rules on real estate developers and restricted lending to the sector.
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