The Chinese government Wednesday raised the minimum down payment requirement for the purchase of second home to 60 percent of the property's value from 50 percent, to curb property market speculation.
The decision was announced in a statement released after an executive meeting of the State Council, China's cabinet, which was presided over by Premier Wen Jiabao.
Related News
- ICBC and China Union Pay Signed Strategic Cooperation Agreement on UnionPay Standard Peony Card
- ICBC and Huatai Property Insurance Company of China Limited Signed Custody Agreement on Full Procedure and Full Amount of Insurance Fund
- ICBC Officially Signed Debt Restructuring Agreement with China Changjiang National Shipping Group
- ICBC Successfully Held the First Online Banking Consulting Event in 2006
