BEIJING : China's central bank and the banking and insurance regulator have established a dynamic adjustment mechanism on mortgage rates for first-time home buyers, the central bank said on Thursday, in a bid to further support the property sector. For cities where the selling prices of new homes fall mon
BEIJING : China's central bank and the banking and insurance regulator have established a dynamic adjustment mechanism on mortgage rates for first-time home buyers, the central bank said on Thursday, in a bid to further support the property sector.
In late September, the central bank had allowed localities to take similar action until the end of 2022. The crisis in China's property market, once a pillar of the world's second biggest economy, worsened last summer after official data projected home prices, sales and investment all falling.
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