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China steps up support for parts of housing market

Posted on 15 June 2012

China has been supporting property purchases by certain buyers to meet genuine rather than speculative demand in the past few months, as Beijing seeks ways to stimulate consumption and ease credit to stave off a hard landing for the world’s second-largest economy.
The government has encouraged banks to offer lower mortgage rates for first-time home buyers, called on developers to increase construction of smaller and cheaper apartments, and is tolerating moves by some cash-hungry municipal and provincial governments to loosen property restrictions at the local level………………………………………..Full Article: Source


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