In order to implement the decisions and arrangements of the Party Central Committee and the State Council, implement the political and popular nature of financial work, and reduce financing costs for residents, the Bank of China resolutely implemented the “People's Bank of China Notice (2024) No. 11”, responded positively to the market interest rate pricing self-regulatory mechanism initiative, and promoted the adjustment of interest rates on existing commercial personal housing loans in an orderly manner in accordance with the law. Currently, the Bank is urgently formulating an implementation plan for stock mortgage interest rate adjustments. It plans to issue specific operating rules on October 12, 2024, and complete batch adjustments by October 31, 2024.

In order to implement the decisions and arrangements of the Party Central Committee and the State Council, implement the political and popular nature of financial work, and reduce financing costs for residents, the Bank of China resolutely implemented the “People's Bank of China Notice (2024) No. 11”, responded positively to the market interest rate pricing self-regulatory mechanism initiative, and promoted the adjustment of interest rates on existing commercial personal housing loans in an orderly manner in accordance with the law. Currently, the Bank is urgently formulating an implementation plan for stock mortgage interest rate adjustments. It plans to issue specific operating rules on October 12, 2024, and complete batch adjustments by October 31, 2024.