China has announced further easing of its mortgage policy in a bid to stem a slump in its housing property market and revive the world’s second-largest growing economy.
The state-run Xinhua News Agency reported on Friday, citing the ministry, that the state-run Xinhua News Agency said local governments would consider people who have taken out mortgages in major cities (even if they paid them off) as first-time homebuyers. It reportedly proposed to local governments to abolish the undeemed rule. Housing and Urban-Rural Development, People’s Bank of China, State Financial Regulatory Administration.