The interest rates on business loans are "flying close to the ground," and small and medium-sized banks are struggling a bit

Under the guidance of policies, market competition, and the decline in funding costs, multiple banks have seen their operating loan interest rates continue to drop. "Our bank's personal mortgage operating loan interest rate has been lowered to 2.31%, a decrease of nearly 20 basis points compared to last month," said Xiao Tang, a staff member at a branch of ICBC in Xicheng District, Beijing. In addition, some operating loan products, supported by interest subsidy policies, can have actual interest rates reduced to the "1s."