China’s Central Bank Slashes Key Loan Interest Rate to Boost Property Market, Chinese Public Skeptical

Published on February 25, 2024

The Chinese communist regime’s central bank in recent days cut the long-term loan prime rate (LPR) to a historic low in an attempt to boost the property market amid a slumping economy. However, the Chinese public who have just experienced a stock market crash are skeptical about the cut and remain reluctant to invest in the real estate sector. The central bank announced on Feb. 20 a cut of the LPR for loans with a maturity of more than 5 years by 25 basis points to 3.95 percent. This adjustment is the largest interest rate cut since the LPR pricing model was adopted in October 2019. Xie Yifeng, president of the China Urban Real Estate Research Institute, said that this is an “unprecedented rescue move” and indicates that the property market may be about to usher in a new turning point....

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