Loan and deposit interest rates are simultaneously decreasing. Experts say this is beneficial for increasing financial support for the real economy.

On the 20th, the quoted interest rates for loans in the one-year and five-year plus market both decreased by 10 basis points, dropping to 3.0% and 3.5% respectively. On the same day, major banks also optimized their deposit rates. Experts say that the decrease in LPR is beneficial in increasing financial support for the real economy, and the decrease in deposit rates also creates favorable conditions for further lowering the overall social financing costs.