China unveils biggest package yet to boost property market
Tuesday, 24 September 2024 ()
China has rolled out its largest package to date aimed at bolstering the property market, reducing borrowing costs on $5.3 trillion in mortgages and lowering down-payment requirements for second homes. The People's Bank of China will cut mortgage rates by an average of 0.5 percentage points and decrease the minimum down-payment ratio to 15%.
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