(20 May 2024)
PBoC Announced Four Major Real Estate Financial Policies
On 17 May 2024, the People’s Bank of China announced a series of new real estate financial policies, which focus on digesting existing inventory and optimizing newly built housing to reverse the weak demand in the real estate market, including providing RMB300 billion loans in affordable housing refinancing, reducing minimum down payment ratio for mortgage loans, cancelling the lower limit of the national personal housing loan interest rate, and the reducing housing provident fund loan interest rates of all types by 0.25 percentage points.