BEIJING, Dec. 20 (Xinhua) -- China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.1 percent Friday, unchanged from the previous month.

The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 percent, according to the National Interbank Funding Center.

Despite remaining flat Friday, the LPR, released once a month, has dropped three times this year, with the one-year rate down by 35 basis points in total and the five-year rate down by 60 basis points.

Analysts believe the lower lending rate will help relieve the financing burden on enterprises and individuals, thereby, stimulating business investment and strengthening consumers' purchasing power.

China has stepped up counter-cyclical adjustment in the face of downward pressure on the economy this year. A range of measures have been introduced, from significant cuts in the interest rates for existing home mortgages to the creation of new financing tools for the capital market.

During last week's Central Economic Work Conference, Chinese policymakers decided to implement a moderately loose monetary policy in 2025.

The country will reduce the reserve requirement ratio and interest rates at an appropriate timing in an effort to ensure that the growth of social financing and money supply match the expected targets for economic growth and price levels, according to the meeting. ■