On September 24, Gelonghui | China's central banks President Pan Gongsheng announced at the State Council Information Office press conference that the down payment for existing home loans will be reduced, and the minimum down payment ratio for home loans will be unified, guiding commercial banks to lower the interest rates of existing home loans to those of new home loans, with an average expected reduction of around 0.5 percentage points. The minimum down payment ratios for first-time and second-time home loans will be unified, with the nationwide minimum down payment for second-time home loans reduced from 25% to 15%.