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CHINA PRESS: The new five-year Loan Prime Rate (LPR), which was cut by 5bps to
4.80% on Wednesday, could stimulate demand for home purchases, according to a
report by Cailian Press. Citing Yan Yuejin, the director of the E-House Real
Estate Research Institute, the Cailian report says the five-year LPR acts as a
reference for medium and long-term loans which are mainly personal mortgage
loans. The LPR cut, Yan said, could therefore help in reducing the cost of
buying a house.