Jianye Real Estate Weekly Report

(May 23, 2022)

On May 20, the People's Bank of China authorized the National Interbank Loan Center to announce that the 1-year loan market quoted interest rate (LPR) remained unchanged at 3.7%, and the LPR for a term of 5 years or more was lowered by 15 basis points to 4.45%. This is another reduction in LPR for a period of 5 years or more since January 20 of this year. This month's LPR structural adjustments reflect the further strengthening of monetary policy to support steady growth, which will play a positive role in reducing financing costs for the real economy and boosting domestic investment and consumer demand.

On May 16, the Anyang Housing Provident Fund Management Center made adjustments in conjunction with regulations relating to personal housing loans from the Provident Fund. The first is to raise the personal housing loan amount from the Provident Fund. The maximum loan amount for single people was raised from 400,000 yuan to 500,000 yuan, and the maximum loan amount for husband and wife was raised from 500,000 yuan to 600,000 yuan. Second, loan conditions have been relaxed. After depositors withdraw funds from the housing provident fund account, those who meet the housing provident fund loan conditions can also apply for housing provident fund personal housing loans at the same time.

A total of 7 cities in Henan Province have introduced favorable production policies so far this year, including Zhengzhou, Luoyang, Jiyuan, Luohe, Nanyang, and Anyang, while Anyang is the 7th city to introduce favorable policies this year.