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China urges banks to be flexible with loans for some home buyers – About Your Online Magazine

September 8, 2021
Source: aboutyourmag.info aboutyourmag.info
News Snapshot:
BEIJING : China’s banking watchdog said on Tuesday that banks ought to offer financial support for home buyers with so-called “rigid” demand, referring to purchasing or renting from those recently married or seeking low-cost housing. Banks should implement differentiated mortgage polices and down-payment requirements, the China Banking and Insurance Regulatory Commission (CBIRC) said in a statement, avoiding inflexible rules that penalise non-speculative, legitimate home buyers. Speculators have stoked Chinese real estate prices in recent years, prompting authorities to roll out restrictions including curbs on borrowing, seeking to control a build-up in financial risks in the property sector. The curbs have...
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