The Shanghai headquarters of the People's Bank of China, branches in various provinces, autonomous regions, municipalities directly under the Central Government and planned separate municipalities; various supervisory authorities of the State Financial Supervisory Administration; various countries include commercial banks, China Post Savings Bank, and various joint stock commercial banks:

In order to implement the decisions and arrangements of the Party Central Committee and the State Council, adapt to the new changes in the supply and demand relationship in China's real estate market, the people's new expectations for high-quality housing, and promote the steady and healthy development of the real estate market, the following notice is issued on matters relating to the personal housing loan policy:

For households that use loans to purchase commercial housing, the minimum down payment ratio for commercial personal housing loans for the first housing unit was adjusted to not less than 15%, and the minimum down payment ratio for commercial personal housing loans for two housing units was adjusted to not less than 25%.

On this basis, each provincial branch of the People's Bank of China and the various dispatching agencies of the State Financial Supervision and Administration independently determine the minimum down payment ratio for commercial personal housing loans for the first and second housing units in each city under its jurisdiction in accordance with the city government's regulatory requirements and in accordance with city-specific policy principles.

People's Bank of China

State Financial Supervisory Authority

May 17, 2024