The People's Bank of China today cut the one-year LPR to 3.55 percent and the over five-year LPR down to 4.2 percent.
中国人民银行今天将一年期的LPR(贷款市场报价利率)降至3.55%,五年期以上的LPR降至4.2%。
The 10 basis-point reductions means mortgage borrowers will be able to apply for a loan with lower costs.
下调10个基点意味着抵押贷款借款人将能够以更低的成本申请贷款。
To ensure that customers can take advantage of the mortgage rate reductions,
为了确保客户能够享受到抵押贷款利率下调的利好,
many banks temporarily suspended loan releases today, and will resume them tomorrow at the new rates.
许多银行今天暂停发放贷款,并将在明天以新的利率恢复发放。
Industry analysts say the cuts were needed.
业内分析人士称,这些削减措施是必要的。
"Performance was not ideal beginning in January and extending into May, especially on the sales side.
“从1月开始,一直延续到5月,业绩并不是那么理想,尤其是在销售方面。
Stabilizing sales is the key to stabilizing the development of the industry."
稳住销售是稳住行业发展的关键。”
At the end of last year, China's top securities regulator began allowing property companies to resume refinancing and mergers and acquisitions after a 12-year suspension.
去年年底,中国最高证券监管机构开始允许房地产公司在暂停12年后,恢复再融资和并购。
As of mid-June the Shanghai and Shenzhen Stock Exchanges have approved six real estate companies' refinancing plans, aiming to raise a total of more than 40 billion yuan.
截至6月中旬,上海和深圳证券交易所已经批准了六家房地产公司的再融资计划,目标是筹集总额超过400亿元人民币的资金。
Market analysts say together with today's LPR cut, these measures should help ensure stable development of the real estate market.
市场分析人士表示,加上今天的LPR降准,这些措施应该有助于确保房地产市场的稳定发展。
After seeing a rebound in the first quarter, the property market slowed further in May.
在经历了第一季度的反弹之后,房地产市场在5月份进一步放缓。
The latest government figures showed a fall in sales by floor area of 0.9 percent year-on-year in the first five months, more than double the 0.4 percent figure for the first four months.
最新的政府数据显示,前五个月房屋销售面积同比下降0.9%,是前四个月的0.4%的两倍多。
That was the first time this year that the pace of decline had increased.
这是今年以来首次出现下降速度加快的情况。