China's one-year loan prime rate (LPR) remained steady at 3.45 per cent in June, unchanged from the previous month, according to the National Interbank Funding Center. Similarly, the over-five-year LPR, which influences many mortgage rates, held firm at 3.95 per cent.

Wen Bin, chief economist at China Minsheng Bank, noted that while lending rates are expected to remain stable in the short term, there is potential for a decrease in the future.

China will maintain an accommodative monetary policy. The country aims to strengthen counter-cyclical and inter-temporal adjustments to support economic recovery, fostering a favourable monetary and financial environment for economic and social development, said Chinese media reports quoting Pan Gongsheng, governor of the People's Bank of China (PBOC).

Fibre2Fashion News Desk (DP)