SHANGHAI/SINGAPORE, Oct 21 (Reuters) - China cut

benchmark lending rates as anticipated at the monthly fixing on

Monday, following reductions to other policy rates last month as

part of a package of stimulus measures to revive the economy.

The one-year loan prime rate (LPR) was

lowered by 25 basis points to 3.10% from 3.35%, while the

five-year LPR was cut by the same margin to 3.6%

from 3.85% previously.

The lending rates were last cut in July.

People's Bank of China (PBOC) Governor Pan Gongsheng told a

financial forum last week lending rates will decrease by 20 to

25 basis points on Oct. 21.

The PBOC announced cuts to banks' reserve requirement ratio

by 50 basis points and the benchmark seven-day reverse repo rate

by 20 basis points on Sept. 24, kicking off the most aggressive

stimulus since the pandemic that include measures to support the

ailing property sector and boost consumption.

It also cut the medium-term lending facility rate by 30

basis points last month.

Most new and outstanding loans in China are based on the

one-year LPR, while the five-year rate influences the pricing of

mortgages.

Since the Sept. 24 measures, the CSI300 Index

has broken records for daily moves and is up more than 14%

overall. The yuan is down 1% against the dollar in

that period.

Stocks have wobbled in recent sessions, though, as

initial enthusiasm gave way to concerns about whether policy

support would be big enough to revive growth.

Data on Friday showed China's economic growth was slightly

better than expected in the third quarter, although property

investment fell more than 10% in the first nine months of the

year. Retail sales and industrial production picked up in

September.

Officials addressing a press conference on Friday expressed

confidence the economy can achieve the government's full year

growth target of around 5%, and flagged another cut to banks'

reserve ratio by the year-end.

"How influential further easing proves to be in China & Hong

Kong equity and the CNH is up for debate, as market participants

may be feeling a sense of policy easing fatigue," Chris Weston,

head of research at Australian online broker Pepperstone, said

in a note.

(Editing by Sam Holmes)