China keeps the basic interest rate for loans unchanged

China kept interest rates for one-year loans unchanged, and the Chinese agency (Xinhua) stated that the benchmark lending rate based on the market has been stable at 3.65%, to remain unchanged from the previous month.

The base interest rate for loans for more than five years, on which a number of lenders base their mortgage rates, remained unchanged from the previous reading of 4.3%, according to the China National Center for Interbank Finance.