---
title: "China leaves lending benchmarks unchanged for 12th month in May"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286988186.md"
description: "China has maintained its benchmark lending rates for the 12th month, with the one-year loan prime rate at 3.00% and the five-year rate at 3.50%. This decision aligns with market expectations amid ample interbank liquidity. Economic activity remains soft, prompting analysts to predict targeted fiscal stimulus rather than broad rate cuts, as inflation concerns grow."
datetime: "2026-05-20T01:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286988186.md)
  - [en](https://longbridge.com/en/news/286988186.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286988186.md)
---

# China leaves lending benchmarks unchanged for 12th month in May

SHANGHAI, May 20 (Reuters) - China left benchmark lending rates unchanged for the 12th consecutive month in May on Wednesday, in line with market expectations. WHY IT'S IMPORTANT Ample interbank liquidity and the tone of the PBOC's quarterly report suggest policymakers are in no rush to cut rates, despite lingering softness in economic activity and lending. BY THE NUMBERS The one-year loan

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