12:41 - 30.09.2024

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September 30, Fineko/abc.az. China has taken a number of steps aimed at reducing borrowing costs for mortgages for $5.3 trillion.

ABC.AZ reports, referring to the People's Bank of China, that according to the new steps, homeowners will be able to renegotiate terms with their existing creditors from November 1.

According to the statement, those who choose a fixed mortgage rate will be able to discuss new loans for these mortgages.

The plan, part of a large-scale stimulus package, could end the housing crisis that has weakened China's economy.