"利率市场化路径探析：LPR新机制对金融市场影响及解决方案"

The LPR new mechanism has significantly impacted the financial market. After years of development and reform, the upper limit of interest rates has been liberalized, allowing for a more market-oriented approach to interest rates. However, the commercialization of reference interest rates for loans and deposits still faces obstacles, with the coexistence of enterprise loan reference rates and the analysis of market interest rate risk, as well as the issue of the "dual-track" interest rate system. The ultimate goal of this reform is to promote the replacement of the dual-track credit interest rate with a single-track market-based credit interest rate, thereby improving the effectiveness of interest rate transmission and reducing the cost of financing for real economy trade. The introduction of the LPR in this reform marks a crucial stage in the marketization of interest rates. This article provides a comprehensive analysis of the impact of the LPR reform on the financial market from different perspectives. It identifies areas for improvement in the LPR mechanism and proposes objective solutions. The key areas of impact and improvement identified include the need for further marketization of the LPR, the potential for interest rate reduction, and the convergence of the dual-track interest rate system into a single market-based track. In conclusion, the LPR reform has brought significant changes to the financial market, with the potential to enhance market-oriented development and improve interest rate transmission efficiency. The analysis and proposed solutions in this article aim to contribute to a better understanding of the impact of the LPR reform and support the continued development and improvement of China's financial market. Keywords: LPR reform; interest rate reduction; convergence of dual-track into single-track; market-oriented interest rates.