China has cut the benchmark lending rate as the authorities move to lower financing costs for businesses and support an economy jolted by a severe coronavirus outbreak.
The epidemic has upended global supply chains and caused widespread disruption to businesses and factories in China.
The one-year loan prime rate the new benchmark lending gauge introduced in August, was lowered by 10 basis points to 4.05% from 4.15% at the previous monthly fixing.
The five-year loan prime rate was lowered by 5 basis points to 4.75% from 4.80%.
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