Cross-posted from Investing in Chinese Stocks.
China has a housing fund, the capital for which is voluntarily paid by workers and their employers. Individuals have their own account, but funds are pooled and lent out to home buyers. Until now, a worker in Beijing would only be able to take their savings out and borrow from the fund if they were buying a Beijing home. Now, funds can be used nationwide. Additionally, the time required to pay in before an individual can borrow has been cut to 6 months. 住房公积金异地互认破冰 落地效果待观察
As well, not an increase but faster spending for infrastrucutre. Pulling spending forward can boost growth now, but if the economy doesn’t accelerate on its own, the result will be slower growth in future quarters. China to boost infrastructure investment
China will speed up investment in major infrastructure projects including water conservancy to maintain economic growth within a reasonable range in the fourth quarter, the country’s top economic planner said on Tuesday.
As China’s economy is under downward pressure, boosting consumption and quickening investment will be key to steady growth in the last quarter of this year, Li Pumin, spokesman of the National Development and Reform Commission.
But a Guangzhou developer spoils the mood. Interest in home buying has perked up since the PBOC loosened mortgage rules, with more inquiries about mortgages and more customers visiting properties being reported in the press but a developer says high level executives are involved in fraud and the company needs to raise cash to finish projects. 广州一房企爆发资金危机 购房者担忧会跑路
