China strengthens efforts to support real estate market

At a press conference on Thursday, China announced it will expand credit support to RMB4 trillion to assist struggling real estate developers, ease purchase restrictions, ensure timely delivery of homes, and reduce mortgage rates to boost homebuyer confidence.

China strengthens efforts to support real estate market

Housing Minister Ni Hong noted that property sales in first-tier cities already show a large-scale stabilization and that the market has "bottom out" after three years of adjustment.

Meanwhile, the National Financial Regulatory Administration said various real estate financing tools should be used to create an "integrated scale effect," adding that the current policies will be extended until the end of 2026.

Adjustments to deposit and loan interest rates are also planned

China's Ministry of Finance recently introduced measures to help the real estate sector, allowing local governments to use special bond funds to purchase unsold homes and idle land.

Separately, the PBoC moved to reduce the minimum down payment percentage to 15 percent for all buyers.