The Bank of China issued an announcement on interest rate adjustments for stock housing loans, stating that it has resolutely implemented the requirements of the “People's Bank of China Notice [2024] No. 11”, responded positively to the self-regulatory mechanism initiative, and is promoting efforts to reduce interest rates on existing commercial personal housing loans in an orderly manner in accordance with the law. In accordance with the principles of marketization and legalization, the bank will formulate implementation rules in accordance with the law and carry out technical preparations. It plans to issue specific implementation rules through the Bank's official website, official WeChat account, loan management bank, 95566 and other channels on October 12, 2024, and implement batch adjustments to existing mortgage interest rates by October 31, 2024, so stay tuned.

The Bank of China issued an announcement on interest rate adjustments for stock housing loans, stating that it has resolutely implemented the requirements of the “People's Bank of China Notice [2024] No. 11”, responded positively to the self-regulatory mechanism initiative, and is promoting efforts to reduce interest rates on existing commercial personal housing loans in an orderly manner in accordance with the law. In accordance with the principles of marketization and legalization, the bank will formulate implementation rules in accordance with the law and carry out technical preparations. It plans to issue specific implementation rules through the Bank's official website, official WeChat account, loan management bank, 95566 and other channels on October 12, 2024, and implement batch adjustments to existing mortgage interest rates by October 31, 2024, so stay tuned.