"Loan market quotation (LPR) is quoted by the quoting banks according to the open market operating interest rate (mainly referring to the medium-term lending convenience rate), and is calculated by the National Interbank Funding Center to provide pricing reference for bank loans. LPR includes 1 year and more than 5 years.

The full name of LPR is loan prime, that is, "loan market quotation" (formerly known as loan prime). LPR is not fixed and will be updated every month. The original intention of LPR refers to the loan interest rate executed by financial institutions to their best customers.