Xi Jinping’s government has introduced its most aggressive measures to date to rescue China’s struggling property market.
On Thursday, Beijing announced a new plan that included easing mortgage regulations and urged local governments to purchase unsold homes, reflecting the authorities’ heightened concern over the sector’s impact on economic growth.
The support package comprised several key components designed to revitalize the housing market. First-time homebuyers will benefit from reduced down-payment requirements of 15%, while second-home purchases require only 25%. Additionally, the central bank is providing 300 billion yuan ($42 billion) in funding to help government-backed firms acquire surplus inventory from developers, which will then be converted into affordable housing.
China’s finance ministry conducted the auction for the first batch of its special treasury bonds on Friday, marking the beginning of a long-anticipated stimulus program.
Zhu Ning, professor of finance at the Shanghai Advanced Institute of Finance, was interviewed by Bloomberg TV and said the current measures were somewhat similar …
Full story available on Benzinga.com
Xi Jinping’s government has introduced its most aggressive measures to date to rescue China’s struggling property market.
On Thursday, Beijing announced a new plan that included easing mortgage regulations and urged local governments to purchase unsold homes, reflecting the authorities’ heightened concern over the sector’s impact on economic growth.
The support package comprised several key components designed to revitalize the housing market. First-time homebuyers will benefit from reduced down-payment requirements of 15%, while second-home purchases require only 25%. Additionally, the central bank is providing 300 billion yuan ($42 billion) in funding to help government-backed firms acquire surplus inventory from developers, which will then be converted into affordable housing.
China’s finance ministry conducted the auction for the first batch of its special treasury bonds on Friday, marking the beginning of a long-anticipated stimulus program.
Zhu Ning, professor of finance at the Shanghai Advanced Institute of Finance, was interviewed by Bloomberg TV and said the current measures were somewhat similar …
Full story available on Benzinga.com
Xi Jinping’s government has introduced its most aggressive measures to date to rescue China’s struggling property market.
On Thursday, Beijing announced a new plan that included easing mortgage regulations and urged local governments to purchase unsold homes, reflecting the authorities’ heightened concern over the sector’s impact on economic growth.
The support package comprised several key components designed to revitalize the housing market. First-time homebuyers will benefit from reduced down-payment requirements of 15%, while second-home purchases require only 25%. Additionally, the central bank is providing 300 billion yuan ($42 billion) in funding to help government-backed firms acquire surplus inventory from developers, which will then be converted into affordable housing.
China’s finance ministry conducted the auction for the first batch of its special treasury bonds on Friday, marking the beginning of a long-anticipated stimulus program.
Zhu Ning, professor of finance at the Shanghai Advanced Institute of Finance, was interviewed by Bloomberg TV and said the current measures were somewhat similar …Full story available on Benzinga.com Read MoreAsia, BABA, China, Equities, Expert Ideas, Government, house market, KWEB, Large Cap, Macro Economic Events, PDD, Regulations, REIT, Stories That Matter, Specialty ETFs, Commodities, Global, Econ #s, Top Stories, Economics, Movers, Tech, ETFs, Real Estate, PDD, BABA, KWEB, Asia, Large Cap, Macro Economic Events, Equities, Government, REIT, Regulations, Specialty ETFs, Commodities, Global, Econ #s, Top Stories, Economics, Movers, Tech, ETFs, Real Estate, Benzinga Economics
