China's Central Bank Won't Change Rules

Jones, Dow
May 2006
American Banker;5/16/2006, Vol. 171 Issue 93, p9
Trade Publication
The article reports that People's Bank of China said that it is not considering raising mortgage down payment requirements to 50%. The central bank's denial followed local news media reports suggesting it would do just that. The Chinese government has applied credit restrictions and administrative controls to the housing market since the middle of 2003 to dampen a surge in investments. However, prices have continued to rise, prompting speculation that the central bank would intervene with tougher measures.


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