China's benchmark lending rate remained unchanged in September, the country's central bank announced on Friday.
China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.35 percent Friday, 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 3.85 percent, according to the National Interbank Funding Center.
The LPR is the most preferential lending rate offered by a commercial bank to its prime clients, and serves as a reference for other lending rates across the economy.
The loan prime rate is calculated by the National Interbank Funding Center, based on quotes submitted by 20 commercial banks. The unchanged rate suggests confidence in market stability on the part of lenders.
The LPR underwent a major reform in 2019, aiming to enhance the role of the market in LPR quoting, improve the efficiency of interest rate transmission, and lower financing costs for the real economy.
China's loan prime rates remain unchanged
China's loan prime rates remain unchanged
People from different walks of life lined the streets of Rio de Janeiro to welcome visiting Chinese President Xi Jinping, who arrived in the Brazilian city on Sunday afternoon local time.
The welcoming crowds were seen waving Chinese and Brazilian national flags and holding banners adorned with messages offering a warm welcome to the Chinese president as his motorcade passed by.
Xi arrived in Rio de Janeiro on Sunday to attend the 19th G20 Summit and pay a state visit to the Latin American country at the invitation of Brazilian President Luiz Inacio Lula da Silva.
Xi's trip to Brazil immediately follows his state visit to Peru, where the Chinese president arrived on Thursday before attending the 31st APEC Economic Leaders' Meeting.
The 19th G20 Summit will take place in Rio de Janeiro on Monday and Tuesday, under the theme of 'building a just world and a sustainable planet'.
During his stay in Brazil, Xi will hold talks with President Lula to discuss bilateral relations and exchange views on international and regional issues of mutual interest, according to the Chinese Foreign Ministry.
Crowds gather to give warm welcome to President Xi in Rio de Janeiro
Crowds gather to give warm welcome to President Xi in Rio de Janeiro
