China cuts one-year and five-year loan prime rates to stabilize property market, economic growth

China’s central bank cut benchmark lending rates for corporate and household loans, as well lowering the mortgage reference rate for the first time in nearly two years. __________________ Powered by Shanghai Media Group, ShanghaiEye focuses on producing top-quality content for Facebook, Twitter, Instagram and Youtube. Nobody knows Shanghai better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated news of the city ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them ■ What Chinese people’s lives are like during the post COVID-19 period ■ Views of foreign s