China rolls out new measures to boost housing demand

China property
Property development in Guangdong

Chinese authorities have lowered borrowing costs for some first-time homebuyers and offered tax refunds for homeowners exchanging their existing home for a new one, as part of several measures to support the ailing housing market.

On September 30, the People’s Bank of China said it was cutting the interest rates on personal loans for first-time buyers under the Chinese government’s housing provident fund by 15 basis points.

The central bank cut the interest rate on five-year-and-below loans to

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