China September 21 Five-Year LPR Released: Signal of Loan Rate Marketization

The People’s Bank of China and China Foreign Exchange Trade System announced China’s five-year Loan Prime Rate (LPR) as of September 21 at 09:00 on July 20, 2026.**What is the Five-Year LPR?**The five-year Loan Prime Rate is the lending rate offered by commercial banks to their highest-quality clients, reflecting the true cost of financing in the market. This rate is determined by quoting banks based on the open market operations rate plus a spread, calculated by the National Interbank Funding Center, and serves as an important reference for bank loan pricing.**Data Significance**The release of this data advances the market-oriented reform of loan interest rates, making rate formation more transparent and directly reflective of market supply and demand, gradually replacing the previous benchmark lending rate system.**Release Schedule**This data is of moderate importance and is published on the 20th of each month. The next release is scheduled for October 20, 2026, at 09:00.