On May 17, the People’s Bank of China (PBOC) introduced several new incentives for people to buy homes, including scrapping minimum interest rates on mortgages for new and pre-owned homes, and reducing the minimum down payment ratio for first-home buyers from 20 percent to 15 percent and for second homes from 30 percent to 25 percent. These are the lowest ratios since mortgages were introduced in 1992.
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China’s 2024 Legislative Plans Set Priorities for the Economy, Cyberspace, the Environment, and More
China’s National People’s Congress (NPC) and State Council have both released their legislative plans for the rest of 2024, reflecting China’s regulatory priorities in a wide array of economic and civil society matters.
The Biden administration has characterized its strategy for regulating commerce with China as a “small-yard, high-fence” approach, saying it will promote what it can and protect what it must. Under this framework, access to certain dual use technologies and services is controlled, while other, non-sensitive areas are not restricted, tariffs notwithstanding.
The US-China Commercial Issues Working Group (CIWG), the first commercial bilateral mechanism between the United States and China in seven years, recently concluded its first meeting, which took place in Washington, DC.
China has seen several high-level personnel changes at the central and provincial levels over the last few months. On February 7, Wu Qing (吴清), previously the deputy party chief of Shanghai, assumed the role of chairman of the China Securities Regulatory Commission (CSRC), succeeding Yi Huiman (易会满).