{
  "id": 10861917,
  "title": "Konjunkturpaket: China will den Immobilienkauf fördern",
  "url": "https://urgent.news/2026/09/30/konjunkturpaket-china-will-den-immobilienkauf-fordern",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-30T04:49:22.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/politik/international/konjunktur-china-will-den-immobilienkauf-foerdern/100258521.html"
  },
  "original_language": "de",
  "account": "China plans to boost the real estate market by offering grants for mortgage payments and changes in bank lending practices. The Chinese economy aims to revive its sluggish growth through these measures. The state will take a portion of the interest payments on state-guaranteed apartments nationwide. First-time homebuyers will be eligible for the support for up to five years, with a maximum of a one percentage point annualized rate of the mortgage amount. The Ministry of Finance announced this on the evening of Tuesday. Additionally, the government outlined several steps to encourage banks to lend in selected areas like infrastructure and technology. The Central Bank increased the volume of a refinancing program to promote technological innovation and equipment modernization by 200 billion Yuan (approximately 30 billion dollars) to a total of 1.4 trillion Yuan. The scheme will also increase the eligible portion of credits that can be funded through the program. Eligible apartments have a maximum area of 120 square meters and a purchase price of up to 1.5 million Yuan. The regulation is set to take effect on October 1st and will initially last for a year. The subsidy program aims to reduce housing costs for lower-income households, including newly arrived residents in cities, college graduates, and employees without managerial positions. Limited impact was expected. As early as Monday, the State Council announced that it would consider further measures to stabilize the struggling real estate market and support economic growth. The relatively limited scope of the recent stimulus package suggests that further steps may follow. The impact of the new measures is expected to be \"very limited,\" said Daniel Fan, an analyst at Bloomberg Intelligence at the financial data and media company. China's growth is expected to have further slowed down in the third quarter and remain below the lower end of the government's annual target of 4.5-5 percent. Consumer spending has stagnated, while investments are falling even more. The ongoing slowdown in the real estate market, where prices for new constructions have been falling for over three years, continues to heavily burden the economy. Robin Xing, China Chief Economist at the US bank Morgan Stanley, called the overall package \"still modest.\" It is unlikely to reverse the debt-driven retreat of private households, which is marked by lack of confidence, he said. Xing expects the real gross domestic product to grow in the year as a whole near the lower end of the target range of 4.5 to 5 percent. Mortgage rates significantly above the policy rate The average mortgage rate for first-time buyers in 42 major cities remained unchanged at 3.05 percent for the eleventh consecutive month in September. This figure is considerably above the yield of 10-year Chinese government bonds and the rental yields in major cities. This is because China has left the loan prime rate, a key reference rate for pricing bank loans, unchanged for the 16th consecutive month in September. Banks usually charge first-time buyers rates slightly below this reference. The scope for the central bank to cut interest rates further in the world's second-largest economy is limited: Chinese banks' net interest margins, an important profitability benchmark, have remained near a record low in recent times.",
  "summary": "Peking erstattet Erstkäufern von günstigem Wohnraum einen Teil der Zinskosten und weitet die Kreditvergabe an bestimmte Branchen aus. Das soll die lahmende Wirtschaft antreiben.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}