Recently, the People's Bank of China and the China Banking and Insurance Regulatory Commission issued a notice, deciding to establish the first dynamic adjustment mechanism for housing loan interest rate policies. For cities where the sales prices of newly built commercial residential buildings have decreased for three consecutive months on a month on month basis and year-on-year basis, the lower limit of the local first home loan interest rate policy can be maintained, lowered or cancelled in stages.

The housing loan interest rate policy is linked to the trend of new housing prices and dynamically adjusted, which is conducive to supporting urban governments to scientifically evaluate the changes in local commodity residential sales prices. The "city specific policies" make full use of the policy toolbox, better support rigid housing demand, and form a long-term mechanism to support the stable and healthy operation of the real estate market.

Editor in charge: Yang Xiting