China to support new residents’ reasonable demand for housing credits

HONG KONG : China will support new residents' reasonable demand for housing credits, and implement differentiated housing credit policies for different cities, its banking and insurance regulator said on Friday.

Chinese banks and financial institutions are encouraged to optimise housing financing services, reasonably setting the standards for mortgage loans for new residents who are first time home buyers that meet the housing requirements, China Banking and Insurance Regulatory Commission said in a statement.

(Reporting by Meg Shen and Ella Cao; Editing by Alex Richardson)

Artmotion Asia

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