China's big banks to cut existing mortgage rates starting on October 25
- Posted on October 12, 2024
- By Business News Today
- 5 Views
China's big banks to cut existing mortgage rates starting on October 25
Four major state-owned Chinese banks, including China Construction Bank Corp and Bank of China, will reduce existing mortgage rates by up to 30 basis points below the benchmark Loan Prime Rate from Oct. 25. This move follows a central bank order aimed at boosting the property market and domestic demand.
