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China Interest Rate

China Interest Rate

1-Year Loan Prime Rate in China

China's central bank policy rates from 2013 to 2022 were carefully managed, reflecting the government's broader economic control strategy. While rates were adjusted to support economic growth and manage debt levels, China also used other monetary policy tools extensively. The approach was cautious, aiming to balance the need for economic stimulus with the risks of increasing debt and financial instability.

The 1-Year Loan Prime Rate ended 2022 at 3.65%, down from the 3.8% end-2021 value and below the reading of 5.73% a decade earlier. For reference, the average 1-Year Loan Prime Rate in the Asia-Pacific region was 3.7% at end-2022. For more interest rate information, visit our dedicated page.

China Interest Rate Chart

Note: This chart displays Policy Interest Rate (%) for China from 2020 to 2019.
Source: People's Bank of China.

China Interest Rate Data

2018 2019 2020 2021 2022
1-Year Loan Prime Rate (%, eop) 4.31 4.15 3.85 3.80 3.65
7-Day Reverse Repo Rate (%, eop) 2.55 2.50 2.20 2.20 2.00
1-Year Deposit Rate (%, eop) 1.50 1.50 1.50 1.50 1.50
10-Year Bond Yield (%, eop) 3.23 3.14 3.14 2.78 2.84
Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Chinese interest rate projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Chinese interest rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Chinese interest rate projections.

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