China unveils biggest package yet to boost property market
China has rolled out its largest package to date aimed at bolstering the property market, reducing borrowing costs on $5.3 trillion in mortgages and lowering down-payment requirements for second homes. The People's Bank of China will cut mortgage rates by an average of 0.5 percentage points and decrease the minimum down-payment ratio to 15%.
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China has rolled out its largest package to date aimed at bolstering the property market, reducing borrowing costs on $5.3 trillion in mortgages and lowering down-payment requirements for second homes. The People's Bank of China will cut mortgage rates by an average of 0.5 percentage points and decrease the minimum down-payment ratio to 15%. 
