Reported 7 months ago
At a press conference on June 13, 2024, hosted by Central Bank Governor Yang Jinlong, the Central Bank announced its sixth wave of selective credit control measures, reducing the loan-to-value ratio for the second home purchase in specific areas from 70% to 60%. Yang stated that the new housing policy is the responsibility of the Ministry of Finance and the Central Bank will not override their decisions but will monitor the impact of housing prices on financial stability. Yang reiterated the Central Bank's focus on financial stability, highlighting that real estate prices are not their operational goal but will continue to monitor their effects. He also urged young people applying for loans to pay attention to their financial management to avoid potential pitfalls in the future.
Source: YAHOO