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CHINA PRESS: China Should Consider Subsidising Housing Acquisition

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China could offer interest or yield subsidies to speed up local authorities' acquisition of unsold homes for affordable housing and destocking, 21st Century Business Herald reported, citing Zhu Haibin, chief China economist at J.P. Morgan Chase. The Ministry of Finance could support CNY1 trillion of housing acquisitions by releasing CNY20 billion of funds through subsidising interest rates or yields by about two percentage points, said Zhu. A yield of 3.5-4% would make acquisitions attractive, compared to China’s current rental yield of about 2%, Zhu added.

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China could offer interest or yield subsidies to speed up local authorities' acquisition of unsold homes for affordable housing and destocking, 21st Century Business Herald reported, citing Zhu Haibin, chief China economist at J.P. Morgan Chase. The Ministry of Finance could support CNY1 trillion of housing acquisitions by releasing CNY20 billion of funds through subsidising interest rates or yields by about two percentage points, said Zhu. A yield of 3.5-4% would make acquisitions attractive, compared to China’s current rental yield of about 2%, Zhu added.