The new loan market quoted interest rate (LPR) was released on December 20th, and the LPR for 1-year and 5-year and above terms has not been adjusted. On the same day, the People's Bank of China authorized the National Interbank Funding Center to announce that the 1-year LPR was 3.1% and the 5-year LPR was 3.6%. LPR is the main reference benchmark for loan interest rate pricing, which is released regularly every month. Since the beginning of this year, the cumulative decrease in 1-year and 5-year LPR has been 35 and 60 basis points respectively, driving loan interest rates to remain at historically low levels. (New Society)