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An offline package pickup station for Xiaohongshu, or Redhome, in Zhengzhou, May 31, 2018. [Photo/VCG]
Analysts said that the stable LPR was in line with market expectations. The US Federal Reserve's rate cuts in December have eased pressure on the PBOC to adopt a similar move.
Andrew Sheng, distinguished fellow at the Asia Global Institute at the University of Hong Kong, believes the increase in consumer confidence in China in January will herald a recovery in growth.
Analysts have mixed views on whether the cryptocurrency project is instilling a feeling that China could be in danger of missing out.
Analysts said the push by Chinese companies to expand abroad is also due in part to increasingly fierce domestic competition.
