It means floating 59 basis points on the benchmark interest rate stipulated by the People's Bank of China.

According to Baidu Library, lpr plus 59.0 basis points means that the benchmark interest rate stipulated by the People's Bank of China will rise by 59 basis points. For example, if the benchmark loan interest rate is 4.5%, CCB will rise by 59 basis points, and the loan interest rate of CCB is 5.09%.

LPR usually refers to the quoted interest rate in the loan market. Loan market quotation (LPR) is the quotation made by a representative quotation bank based on the bank's loan interest rate for the best quality customers, plus the open market operating interest rate (mainly referring to the medium-term lending convenience rate).