There is room for real estate policy to be optimized; banks encouraged to negotiate with homebuyers for term changes – PBOC official
MACRO POLICY & REGULATION REAL ESTATE
There is room for real estate policy to be optimized; banks encouraged to negotiate with homebuyers for term changes – PBOC official
MACRO POLICY & REGULATION REAL ESTATE

There is room for real estate policy to be optimized; banks encouraged to negotiate with homebuyers for term changes – PBOC official

 

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Considering that the supply and demand balance in China’s real estate market has changed fundamentally, there is room for the policies introduced when the market was overheated to be marginally optimized, said Zou Lan, head of monetary policy department of the PBOC. 

The financial department will step up policy study and make city-based policies more targeted and precise to better support rigid and improvement-based home demand and promote healthy and stable development of the real estate market, Zou said.

The PBOC supports and encourages commercial banks to have independent negotiations with homebuyers to change terms of borrowing contracts or replace existing mortgage loans with new loans, said Zou.