China Five-Year LPR Announced on October 20: New Reference Rate for Loans

The People's Bank of China and the China Foreign Exchange Trade System announced the five-year Loan Prime Rate (LPR) for China as of October 20, 2026, at 09:00.The five-year Loan Prime Rate (LPR) serves as the benchmark rate for commercial banks when extending loans to high-quality clients. This rate is quoted by individual banks based on actual market conditions and calculated accordingly, guiding pricing for various types of loans and gradually replacing the previous benchmark lending rate.This indicator has driven market-oriented reforms in lending rates, making rate levels more transparent and more directly reflecting actual market supply, demand, and rate fluctuations.The data is of medium importance, calculated using the Loan Prime Rate formation mechanism, and released on the 20th of each month. The next release is scheduled for November 20, 2026, at 09:00.