China's large banks are reportedly preparing to reduce existing mortgage loans and deposit interest rates to support economic growth.
BloomberSome interest rates.Two people familiar with the matter revealed that this would only affect the loan of the first house.
People familiar with the matter also said that banks such as Industrial and Commercial Bank of China and China Construction Bank are also preparing to reduce the deposit interest rate this week, which is the third adjustment within a year.
It is reported that after the above news was exposed, the Chinese stock market rose in offshore transactions, but it is unclear whether these measures are sufficient to stimulate the continuous recovery of investors' confidence.
Although the real estate crisis is deepened and the pressure of currency tightening has continued to increase, about 5%of the economic growth target of the Chinese government is risky, so far, the official has always avoided more stimulating measures.
Bloomberg quoted Hu Weijun, director of the China Economic Research of McGust by Bloomberg, analyzed that this is a step for policy follow -up, "but it is not to reverse the global policy because people's confidence is still weak."He said: "I think we will see the real estate easing policy in the next few weeks, but we don't know if the strength is strong enough."
