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Published 1 month ago

China pledges to buy apartments and finish stalled housing projects

  • China announced plans for local governments to purchase apartments and ensure the completion of unfinished homes to stabilize the property sector.
  • The purchased homes will be used for affordable housing, with no specific timeline, target, or funding details disclosed.
  • The central bank will reduce mortgage interest rates and downpayment requirements, leading to a 4% increase in China's CSI 300 Real Estate index.
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