The one-year rate, reported on a website operated by the State Administration of Foreign Exchange, stood at 5.56 percent at midday on Monday, down from 5.76 percent, where it has been since June.
The LPR is a rough proxy for real lending costs in China. The central bank has reduced official guidance rates for loans in part to spur more productive investment and also alleviate the cost of rolling over outstanding loans for Chinese companies.