Issued: October 22 2008
Main Contents: The floor of the loan rate for residential premises of a commercial nature for individuals shall be extended to 0.7 times of the benchmark loan rate and the minimum down payment shall be adjusted to 20%.
People's Bank of China, Extending the Downward Movement of Interest Rates for Loans for Residential Premises of a Commercial Nature for Individuals in Support of First-time Purchase of Ordinary Residential Premises by Residents
中国人民银行扩大商业性个人住房贷款利率下浮幅度支持居民首次购买普通住房
China revitalises its property market to increase domestic demand in view of the financial crisis.
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