China Boosts Property Market
China has introduced new stimulus measures to boost the property market and support the weakening yuan. These measures include reducing minimum down payments for homebuyers and slashing interest rates on new mortgages. The government hopes that these policies will stimulate consumption and investment. Beijing is also taking steps to address the declining value of the yuan, such as cutting the amount of foreign currency banks must hold as reserves. The Chinese government is also implementing measures to boost household consumption, including tax breaks on childcare and education costs.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 China has introduced new stimulus measures to boost the property market and support the
00:06 weakening yuan.
00:07 These measures include reducing minimum down payments for homebuyers and slashing interest
00:12 rates on new mortgages.
00:13 The government hopes that these policies will stimulate consumption and investment.
00:17 Beijing is also taking steps to address the declining value of the yuan such as cutting
00:21 the amount of foreign currency banks must hold as reserves.
00:24 The Chinese government is also implementing measures to boost household consumption, including
00:29 tax breaks on childcare and education costs.
00:32 For all things money, visit Benzinga.com.
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