The People's Bank of China issued an initiative on September 29 to guide the market interest rate pricing self-regulation mechanism. Commercial banks should uniformly implement batch adjustments to stock mortgage interest rates by no less than 30 basis points by October 31, 2024. In principle, 18 national commercial banks will issue operating rules no later than October 12. The reporter learned from the interest rate self-regulation mechanism that cities such as Beijing, Shanghai, and Shenzhen currently set the lower limit of interest rate policies for issuing new mortgages, the adjusted point increase is not lower than the lower limit of local points added.

The People's Bank of China issued an initiative on September 29 to guide the market interest rate pricing self-regulation mechanism. Commercial banks should uniformly implement batch adjustments to stock mortgage interest rates by no less than 30 basis points by October 31, 2024. In principle, 18 national commercial banks will issue operating rules no later than October 12. The reporter learned from the interest rate self-regulation mechanism that cities such as Beijing, Shanghai, and Shenzhen currently set the lower limit of interest rate policies for issuing new mortgages, the adjusted point increase is not lower than the lower limit of local points added.