High-rise buildings in downtown Shanghai, China, on March 12, 2018. China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy.
Johannes Eisele | Afp | Getty Images
China’s central bank on Monday extended its policies to support the real estate market to the end of 2024.
The aim is to increase financial support to ensure home delivery, the People’s Bank of China said in a statement.
For newly issued ancillary financing that becomes non-performing, relevant institutions and personnel are exempt from liability if they have exercised due diligence, it added.
