Economist at UOB Group Ho Woei Chen, CFA, reviews the latest measures to underpinned China’s property sector.China has announced stronger support measures for its property market including the relaxation of the definition of first-time homebuyers as well as a cut in down-payment requirement and borrowing costs for new buyers and existing first-home mortgages.
We reiterate our call for lower lending rates by another 10 bps for 1Y LPR and 20 bps for 5Y LPR by end-4Q23. We are keeping our forecast for GDP growth at 5.0% for 2023 and 4.5% for 2024. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.