China's central bank is continuing its campaign to bolster the nation's property market, which is experiencing a downturn that has dented demand for commodities and weighed on global growth forecasts.
In what is best described as an incremental move in an ongoing project, the People's Bank of China said it would lower the down payments people with an existing mortgage pay on their second home loan to 40 per cent from 50 per cent.
This, the PBoC said in a statement (link in Chinese) was:“One step further to improve credit policy for individual householders.”
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