Chinas central bank lowered the down payment ratios for mortgages to 15% for first-home purchases and 25% for second-home purchases. The central bank also said it will pare interest rates on loans tied to individuals housing provident funds by 0.25%age points. Those moves follow several other measures rolled out by the cities of Hangzhou, Hefei, Xian, Shenzhen, Wuhan, Beijing and Chengdu to stimulate local property markets.
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