MNI with this on the People’s Bank of China from China Business news:
- PBOC cut downpayment requirement for mortgage loans
- Announced on Tuesday night
- The first step of government efforts to push "destocking" of the property market
- Likely to be followed by "a wave of policies" to promote house sales
- Could include a residence registration system, central provident fund and property transaction taxes
Policy measures are expected to be announced after the National People's Congress, which starts on March 5
The article quotes "sources close to policymakers"
