Login

      E-mail
      Password

      Leading provider of market intelligence and pricing solutions for energy products and commodities in China

      LATEST
      Oman (Oman) 70.72 Brent 68.51 Brent Dtd (UK) 69.79 Dubai (UAE) 70.52 SC crude contract 519.2 Shengli (China) 67.04 WTI 65.25 Oman (Oman) 70.72 Brent 68.51 Brent Dtd (UK) 69.79 Dubai (UAE) 70.52 SC crude contract 519.2 Shengli (China) 67.04 WTI 65.25

      China moves to stimulate property market

      6:36pm 20 May, 2024 Ray Chen

      Guangzhou (JLC), May 20, 2024 China has recently announced various measures to boost its property sector, officials said at a press conference held by the State Council on May 17.

       

      The measures came at a time when the housing market remained a major drag on the country’s growing economy.

       

      China’s property investment fell 9.8% year on year to CNY3.09 trillion in January-April 2024, according to the National Bureau of Statistics (NBS). New property sales volume decreased 20.2% yoy to 293 million square meters in the first four months of 2024, the NBS data showed.

       

      China’s Property Development Index, a gauge of the sector's level of prosperity, stood at 92.02 in April, the lowest level in more than a year.

      property market, housing, real estate 


      To pull the sector out of the doldrums and revive developers’ and home-buyers’ confidence, the authorities announced the following stimulus measures, including but are not limited to:

       

      Lower down-payment ratios

      The minimum down payment ratios for individuals' commercial home mortgages will be lowered to 15% for first-home buyers and 25% for second-home buyers, said Tao Ling, Deputy Governor of the People's Bank of China (PBOC), China’s central bank.


       property market, housing, real estate


      No floors on commercial mortgage rates

      The PBOC also announced that lower limits of commercial mortgage rates for first and second homes will be removed across the country.

       

      Central bank branches can determine the lower limits of commercial mortgage rates in accordance with local conditions, and financial institutions should set the floor lending rates based on their business status and their borrowers’ risk assessment, the central bank said.

       

      Lower interest rates on housing fund loans

      China also cut the loan rates of the individual housing provident fund (“housing fund”), a long-term housing savings plan made up of compulsory monthly deposits by both employers and employees, by 0.25 percentage points, effective May 18, the PBOC said.

       

      Compared to a commercial mortgage, a housing fund loan itself generally enjoys a lower interest rate.

       

      Relending fund for purchasing unsold homes

      China has recently given the green light to local state-owned enterprises (SOEs) to buy some unsold residential projects and turn them into affordable public housing.

       

      The PBOC announced a CNY300 billion relending fund, which will be provided to 21 commercial banks. This measure is expected to release CNY500 billion in bank loan liquidity through these banks to local SOEs to purchase unsold homes.

       

      Other steps to support unfinished projects

      In addition, the National Financial Regulatory Administration announced on May 17 that the country will actively provide lending support to those unfinished housing projects on the “white list”, regardless of the ownership of their developers.

       

      Under the “white list” program launched in January, local governments nominated the unfinished housing projects, for which banks were encouraged to provide loans.

       

      This policy was deemed to be targeted at specific projects, rather than developers.

       

      Easing of home-buying restrictions

      Many second-tier or third-tier cities have relaxed or lifted their home-buying curbs over the past a couple of years to spur home sales.

       

      Xi’an, Hangzhou, Dongguan, Foshan, Wuhan, Dalian, Qingdao, Jinan, Xiamen, Nanjing, Nanchang, Fuzhou, Zhengzhou were among those cities that eased or lifted home-buying restrictions.

       

      First-tier cities – Beijing, Shanghai, Guangzhou and Shenzhen – also fine-tuned their home-buying policies. However, the “big-four” cities have not totally scrapped home-buying restrictions.


      主站蜘蛛池模板: 波多野结衣在线观看中文字幕| 儿子女朋友爸爸的朋友| 九九九九九九伊人| 绿巨人在线视频免费观看完整版 | 黑人猛男大战俄罗斯白妞| 天天爽亚洲中文字幕| 久久精品人人槡人妻人人玩| 粉色视频免费试看| 国产午夜在线观看视频播放| 97色伦在线观看| 成人毛片全部免费观看| 亚洲成av人片在线观看无码不卡| 精品欧洲videos| 在线观看网站黄| 久久国内精品自在自线400部o| 热久久天天拍天天拍热久久2018| 国产ts人妖合集magnet| 欧美极品另类高清videos| 在线中文字幕日韩欧美| 中日韩精品视频在线观看| 亚洲gv天堂无码男同在线观看| 黑人巨大精品大战白人美女| 天天夜碰日日摸日日澡| 久久久久久久岛国免费播放| 欧美又大又粗又爽视频| 八戒网站免费观看视频| 高清一区高清二区视频| 成人动漫在线播放| 久久精品国产一区二区三区肥胖| 狠狠色综合网站久久久久久久高清| 国产午夜a理论毛片在线影院| 香蕉污视频在线观看| 天堂а√8在线最新版在线| 中文字幕日本最新乱码视频| 暖暖直播在线观看| 亚洲综合无码AV一区二区| 精品一区二区AV天堂| 国产乱人伦偷精品视频| 麻豆国产一区二区在线观看| 国产精品无码永久免费888| t66y最新地址一地址二地址三 |