The State Council Information Office held a press conference this morning, where the leaders of the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission introduced the relevant financial support for high-quality economic development. Several heavyweight policies were introduced simultaneously, intensifying monetary policy regulation to further support stable economic growth. The head of the People's Bank of China introduced that in terms of housing loans, they will reduce the interest rates on existing housing loans and unify the minimum down payment ratio for housing loans. Specifically, guiding commercial banks to reduce the interest rates on existing housing loans to be close to the interest rates on new housing loans, with an average reduction of about 0.5 percentage points left and right. The minimum down payment ratio for second home loans nationwide will be reduced from 25% to 15%, unifying the minimum down payment ratios for first home and second home loans.

Governor of the People's Bank of China, Pan Gongsheng, announced at the State Council Information Office press conference on September 24 that they will establish convenience for securities, funds, and insurance companies to exchange assets, support eligible securities, funds, and insurance companies to obtain liquidity from the central bank through asset pledging, significantly enhancing their funding and shareholding capabilities. They will establish special rediscounting policies to guide banks to provide loans to listed companies and major shareholders, supporting repurchases and shareholding.