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China vows to step up regulations on real estate sector, PBOC asks Shanghai banks to raise home mortgage rates

Last updated on July 27, 2021

Chinese central bank's Shanghai branch has asked lenders in the city to raise home mortgage rates as the country vows to step up real estate regulations and clean up irregularities in the property market.

The Shanghai branch of the People's Bank of China has asked commercial banks' local branches to increase home mortgage rate for first-time home buyers to 5 per cent from 4.65 per cent and to raise the mortgage rate for . . .

 

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