China keeps lending prime rate unchanged as economy recovers from COVID

200 Both short-term and long-term interest rates are at historically low levels, the People’s Bank of China takes action to Support liquidity conditions in a weak economy. China is struggling with unprecedented COVID- infections after several lockdowns and movement restrictions were lifted earlier this month. 65 The lower five-year interest rate is also designed to plunge the country into The beleaguered real estate industry has benefited. 400 Nevertheless, China’s reversal of its strict zero-COVID policy is expected to stimulate the economy recovery30, as more parts of the country re-emerge from strict movement restrictions.