Core Viewpoint - The People's Bank of China announced that the Loan Prime Rate (LPR) for September remains unchanged, with the 1-year LPR at 3.0% and the 5-year LPR at 3.5% [1] Summary by Category Interest Rates - The 1-year LPR is set at 3.0%, unchanged from the previous month [1] - The 5-year LPR is set at 3.5%, also unchanged from the previous month [1]

9月22日，中国人民银行授权全国银行间同业拆借中心公布，9月贷款市场报价利率（LPR）为：1年期 LPR为3.0%，5年期以上LPR为3.5%。两个品种LPR均较上月维持不变。 来源：中国人民银行 责编：叶舒筠 校对：祝甜婷 版权声明 END 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 巴菲特，持仓新动向！ 丨 突发！688270，董事长被留置！ 丨 000851，突发！锁定面值退市！ 丨 两大事件，重磅来袭！就在明日！ 丨 外资机构，密集调研！最新动向→ 丨 蔡国强、始祖鸟致 歉！ 丨 靴子落地！佟吉禄被查！ 丨 始祖鸟烟花秀引争议！日喀则凌晨通报→ 丨 始祖鸟，"火了"！ 喜马拉雅山放烟花，网友"炸锅"！多方回应→ 丨 A股新纪录背后，2.4万亿资金偏爱这些股票→ 丨 特 朗普自曝：美国从俄乌冲突中获利！ 丨 微博、快手被查处 ...

Core Points - The People's Bank of China announced the Loan Prime Rate (LPR) for September 22, 2025, with a 1-year LPR set at 3.0% and a 5-year LPR at 3.5% [1] Summary by Category - **Interest Rates** - The 1-year LPR is established at 3.0% [1] - The 5-year LPR is set at 3.5% [1] - These rates will remain effective until the next LPR announcement [1]

中国央行将一年期和五年期贷款市场报价利率（LPR）分别维持在3%和3.5%不变。 https://t.co/Dd29tWuwd3 ...

风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 中国央行将一年期和五年期贷款市场报价利率（LPR）分别维持在3%和3.5%不变。 ...

Group 1 - As of the end of August, the broad money supply (M2) reached 331.98 trillion yuan, showing a year-on-year growth of 8.8% [1] - The narrow money supply (M1) stood at 111.23 trillion yuan, with a year-on-year increase of 6% [1] - The cash in circulation (M0) was 13.34 trillion yuan, reflecting a year-on-year growth of 11.7% [1] Group 2 - The total social financing increment for the first eight months was 26.56 trillion yuan, which is 4.66 trillion yuan more than the same period last year [2] - The increase in RMB loans to the real economy was 12.93 trillion yuan, which is a decrease of 4.85 trillion yuan compared to the previous year [2] - Net financing from government bonds was 10.27 trillion yuan, an increase of 4.63 trillion yuan year-on-year [2] Group 3 - By the end of August, the total social financing stock was 433.66 trillion yuan, with a year-on-year growth of 8.8% [3] - The balance of RMB loans to the real economy was 265.42 trillion yuan, showing a year-on-year increase of 6.6% [3] - The balance of government bonds increased by 21.1% year-on-year, reaching 91.36 trillion yuan [3] Group 4 - The balance of RMB loans as of the end of August was 269.1 trillion yuan, reflecting a year-on-year growth of 6.8% [4] - In the first eight months, RMB loans increased by 13.46 trillion yuan, with household loans rising by 711 billion yuan [4] - Loans to enterprises increased by 12.22 trillion yuan during the same period [4] Group 5 - The balance of RMB deposits reached 322.73 trillion yuan by the end of August, with a year-on-year growth of 8.6% [5] - In the first eight months, RMB deposits increased by 20.5 trillion yuan, with household deposits rising by 9.77 trillion yuan [5] - Non-financial enterprise deposits increased by 610.6 billion yuan during this period [5] Group 6 - The weighted average interbank lending rate in August was 1.4%, down 0.37 percentage points from the same period last year [6] - The weighted average rate for pledged repos was 1.41%, which is 0.38 percentage points lower year-on-year [6] Group 7 - The one-year loan market quoted rate was 3.00% as of August 20, down 0.1 percentage points from the end of last year [7] - The quoted rate for loans over five years was 3.50%, also down 0.1 percentage points compared to the end of last year [7] Group 8 - As of the end of August, the RMB exchange rate index fell by 4.83% compared to the end of last year [8] - The RMB to USD exchange rate was 7.1030, appreciating by 1.20% year-on-year [8] - The RMB to Euro exchange rate depreciated by 9.34% compared to the end of last year [8]

Core Viewpoint - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) steady for three months, following a 0.1 percentage point reduction in May, which is expected to influence both corporate and residential loan rates positively [3][9]. Group 1: Loan Rates Overview - The current commercial loan rates for first-time homebuyers in Guangzhou and Shenzhen are 3.00% and 3.05% respectively, while second-home buyers face rates of 3.00% and 3.45% [3]. - The public housing fund loan rates for first-time homebuyers are 2.60% in both cities, with second-home buyers facing rates of 3.075% [3]. Group 2: LPR Historical Trends - Since August 2019, the 5-year LPR has decreased from 4.85% to 3.50%, indicating a sustained downward trend [6]. - The reduction in LPR is expected to lower financing costs for businesses, stimulating investment and economic growth, while also easing the mortgage burden on residents, thereby boosting housing demand [6][9]. Group 3: Impact of LPR on Mortgage Payments - A comparison of mortgage payments shows that a loan of 2 million yuan over 30 years at an interest rate of 4.85% results in a total repayment of approximately 3.8 million yuan, while at 3.5%, the total repayment drops to about 3.23 million yuan, saving around 566,000 yuan in interest [7][8]. Group 4: Reasons for LPR Stability - The PBOC's decision to keep the LPR unchanged is influenced by the stability of short-term borrowing rates and the current economic conditions, which do not necessitate immediate adjustments [9][10][11]. - Banks are under profit pressure and are reluctant to lower LPR rates further, as this could impact their profitability [10]. - The macroeconomic environment has shown stability, leading to a cautious approach in adjusting LPR rates [11]. Group 5: Future Predictions - Future LPR adjustments may occur as indicated by the recent Central Urban Work Conference, which emphasizes the need for a stable real estate market and potential measures to stimulate demand [12][13]. - The conference highlighted the importance of reducing overall financing costs, suggesting that there is room for future LPR reductions [13].

Core Points - The People's Bank of China announced the Loan Prime Rate (LPR) for one year at 3.0% and for five years or more at 3.5% as of August 20, 2025 [1][3] Summary by Category Interest Rates - The one-year LPR is set at 3.0% [1][3] - The five-year LPR is set at 3.5% [1][3]

中国央行将一年期和五年期贷款市场报价利率（LPR）分别维持在3%和3.5%不变。(连续3个月维持不变） https://t.co/cZJpAlDRXU ...

Core Points - The Loan Prime Rate (LPR) for 1-year remains at 3.0% and for 5-year and above at 3.5%, unchanged from the previous period [1] - The LPR serves as a benchmark for loan pricing, calculated based on the rates offered by major banks to their best clients [1] - The stability of the LPR aligns with market expectations and reflects the unchanged basis of the central bank's open market operations [1] Group 1 - The People's Bank of China (PBOC) has maintained the LPR, which is expected to support the implementation of various counter-cyclical measures in the second half of the year [1] - Economic data indicates that China's economic growth in Q2 exceeded market expectations, providing a solid foundation for achieving annual targets [1] - Analysts suggest that the unchanged LPR will help balance support for the real economy while maintaining the health of the banking system [1] Group 2 - Looking ahead, there is potential for LPR adjustments downward due to uncertainties in the external environment and efforts to boost domestic demand [2] - Analysts predict that the central bank may continue to lower interest rates in the second half of the year, which could lead to a further decrease in LPR [2] - The previous reduction in LPR in May was aimed at lowering financing costs for the real economy, particularly to counter external risks [2]