Aug 02, 2023 03:24 AM

ECONOMY

Central Bank Vows Further Mortgage Easing to Support Housing

By Ding Feng and Han Wei

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Despite a series of supportive government policies, China’s real estate sector continues to weaken

Despite a series of supportive government policies, China’s real estate sector continues to weaken

China’s central bank pledged to step up mortgage easing to support homebuyers, signaling further efforts to bolster the ailing property market.

Officials of the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange vowed Tuesday to implement precise and differentiated housing credit policies based on the specific conditions of each city and continue guiding commercial banks to relax residential mortgage rules.

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