On the 20th, the quoted market interest rate (LPR) of the new phase of loan was released. The one-year LPR "stood still" and the five-year LPR fell to 4.45%. On the same day, the people's Bank of China authorized the national interbank lending center to announce that the LPR for one-year period was 3.7%, and the LPR for more than five years was 4.45%. This is the second reduction of LPR over 5 years since January 20 this year. As an important step in deepening the market-oriented reform of interest rate, LPR has gradually replaced the benchmark interest rate of loans and become the "anchor" of loan interest rate pricing, which is published regularly every month. LPR adjustment has strong directionality and guidance. The decline of LPR can drive the decline of enterprise financing real interest rate and reduce the financing cost of the real economy. (Xinhua News Agency)