The basic loan reference interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China.

The market quoted interest rate, also known as the loan prime rate (Loan PrimeRate, referred to as LPR), is a basic loan reference interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. LPR is quoted by a representative quoting bank based on the bank's loan interest rate for the best customers, plus the open market operating interest rate (mainly referring to the medium-term lending facility interest rate) plus points. Specifically, the quoting bank will quote the price to the National Interbank Funding Center before 9:00 on a fixed date of each month (usually the 20th of each month, postponed if it is a holiday) based on the open market operation interest rate plus points. The National Interbank Funding Center will calculate and remove the highest and lowest quotes to obtain the arithmetic average LPR and then publish it.