Beijing unveils financial, housing policies

By Xinhua News Agency

Oct 02, 2024 12:13 am

BEIJING ― China's central bank and Ministry of Housing and Urban-Rural Development on Sunday rolled out a slew of policies to ease the financial burden born by property owners and bolster public confidence, in a bid to stabilize the real estate market.

According to the People's Bank of China (PBOC), the mortgage rates for first homes, second homes and more are to be reduced by no lower than 30 basis points below the loan prime rate (LPR) by October 31.

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