May 20, 2014 07:00 PM

After Years of Slowing Property Market, Gov't Offers Some Support

(Beijing) – On May 12, the People's Bank of China (PBOC), the country's central bank, encouraged commercial banks to provide preferential loans to first-time homebuyers. The move follows steps by some local governments to encourage home sales.

In 2010, the central government took measures to curb the market, including putting in place a restriction that a family could buy at most two homes.

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