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PBOC To Support Rental Housing Development

CHINA PRESS
MNI (Singapore)

The People’s Bank of China said it will support commercial banks to issue rental housing development loans to real-estate companies, industrial parks, enterprises and institutions to build and renovate long-term rental housing, according to a statement on its website. It will also encourage banks to issue loans for group purchases of unused houses for long-term holdings and operations as affordable or rental housing. This latest guideline aims to solve the living problems of new citizens and young people mainly in big cities, and will take effect from Feb 5.

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