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Central Bank: China's Loan Interest Rates Declined Steadily in 2024
2025-01-14
Xuan Changneng, the Vice Governor of the People's Bank of China, announced that China's loan interest rates experienced a steady decline throughout 2024. By December, the interest rate for newly issued corporate loans stood at approximately 3.43%, marking a year-on-year reduction of 0.36 percentage points. Similarly, the interest rate for personal housing loans was approximately 3.11%, down by 0.88 percentage points from the previous year. The credit structure continued to improve, with loans to specialized, sophisticated, and innovative enterprises increasing by 13% year-on-year, and inclusive micro and small enterprise loans growing by 14.6% year-on-year, surpassing the growth rate of all loans over the same period.
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