On the evening of September 29, six major state-owned commercial banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China, quickly issued announcements stating that they are advancing the work of reducing existing commercial personal housing loan rates […]
On September 27th, the central bank’s website indicated that the open market 7-day reverse repo operation interest rate was adjusted from the previous 1.70% to 1.50%. Additionally, the central bank reduced the reserve requirement ratio for financial institutions by 0.5 percentage points (excluding financial institutions that have already implemented a 5% reserve requirement ratio). Regarding
Central Bank Adjusts Repo Rates and Reserve Requirement Ratio to Support Economic Growth Read More »
The market has been gradually improving recently, and we have launched limited-time promotional offers before the National Day holiday, with consumer loan interest rates as low as 2.88%. The number of people withdrawing money and consulting has increased. On September 28th, a staff member from China Merchants Bank in Suzhou, Xiao Wu, told the reporter.
Limited-Time Consumer Loan Offers as Market Recovers Read More »
