China aims to spur property purchases by current homeowners

Mortgage rates and down payments when moving in big cities to be lowered

20230728N China apartment buildings

A government crackdown on speculation in China's real estate industry led to a deep slump. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China is moving to revitalize its slumping property market, easing regulations that stipulated higher mortgage rates and down payments when current apartment owners seek to buy and move into a new one.

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