China Holds LPR Rates Steady for 14th Consecutive Month; 1-Year at 3%, 5-Year-Plus at 3.5%

On July 20, China's Loan Prime Rate (LPR) held unchanged for the 14th consecutive month, with the 1-year rate remaining at 3% and the 5-year-plus rate at 3.5%. The decision came as mainland Chinese equity markets rallied on July 20, with the Shanghai Composite Index and ChiNext Index both rising over 1%, while oil and coal sectors led gains. In Hong Kong, the Hang Seng Index climbed 2.1%, with the Hang Seng Tech Index gaining 2.9%.
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