Financial Times: The weighted average interest rate for new personal housing loans (domestic and foreign currency) issued in April was approximately 3.1%.

ME News Report, May 14 (UTC+8), according to the latest data from the central bank, loan interest rates remain at a low level.
In April, the weighted average interest rate for new corporate loans (domestic and foreign currency) was about 3.1%, approximately 20 basis points lower than the same period last year;
The weighted average interest rate for new personal housing loans (domestic and foreign currency) was about 3.1%, about 6 basis points lower than the same period last year.
“Currently, the overall social financing cost remains at a low level.”
Industry experts summarize that the monetary policy interest rate adjustment framework has been further improved, and by strengthening the implementation of interest rate policies, the transmission mechanism of interest rates has become smoother, helping to continue lowering the comprehensive financing costs for the real economy.
Experts state that in recent years, efforts such as rectifying bank violations in manual interest payments, guiding non-bank interbank demand deposit rates to follow policy rate adjustments, establishing a deposit bidding rate reporting mechanism, standardizing corporate deposit service agreements, urging banks to set loan interest rates reasonably based on operating costs, supporting banks in stabilizing net interest margins, conducting interest rate policy enforcement inspections, and smoothing the transmission of interest rate policies have been implemented.
Overall, China’s policy interest rates can be effectively transmitted, with loan interest rates remaining stable and gradually decreasing, maintaining at a low level.
(Source: Jintiao)