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Bank stocks fall as PBOC's quasi-easing on June 1 seen as being silent on rates

Backpackers set up tents along a plank road that hugs Laojun Mountain in Luoyang city, Central China’s Henan province. [Photo by Wang Zhongju/chinadaily.com.cn]

Backed by 5G, China's mobile ecosystem is expected to add 6 trillion yuan in value to the national economy in 2023, up from 5.2 trillion yuan last year, the report added.

Based on bank-calculated quotes made by adding a few basis points to the interest rate of open market operations (mainly referring to the MLF rate), the LPR is calculated by the NIFC to serve as a pricing reference for bank lending. The LPR currently consists of rates with two maturities -- one year and over five years.

Based in Yiwu, her company Xintean Arts and Crafts have been making artificial Christmas trees for 15 years. Its annual revenue amounts to 100 million yuan (.3 million), and is expected to grow 10 percent this year, Zhu said.