Call made in China for national housing bank to prop up property

April 6, 2015 10:03 AM

65 0

BEIJING, April 6 (Reuters) - China should establish a national housing bank to optimize use of the country's housing provident funds, which have over 3.7 trillion yuan ($597.45 billion) at their disposal, according to an article written by an official with Ministry of Housing and Urban, Rural Construction.

A national housing bank could offer low interest rate housing loans to help middle and low income home buyers, bolstering demand in a sluggish real estate market, and reducing risks for commercial banks, the official said in the article cited by Xinhua News Agency on Monday.

Also read: Astros put Derek Fisher on DL; call up J.D. Davis, who leads Triple-A with .415 average

Read more

To category page