China banks end first-home loan discount

Many banks in the Chinese cities of Shanghai, Beijing and Shenzhen have stopped offering discounts on mortgage loans for first-time home buyers.
Chinese banks have some flexibility when it comes to setting the rates they charge based on their assessment of credit risk, and some have been offering first-time home buyers discounted mortgage rates of 0.85-0.95 [...]

Published by admin on February 17th, 2011 tagged China Law | Comment now »

NEW CHALLENGES FOR FOREIGN BANKS OPERATING IN CHINA

Foreign banks operating in China have faced more fierce competition and challenges from domestic banks, according to a poll conducted recently by Price waterhouse Coopers (PwC) LLP.
In an effort to ward off the global economic crisis, Beijing announced a massive Rmb4 trillion ($586 billion) stimulus package in November 2008, and domestic banks extended a record [...]

Published by admin on May 5th, 2010 tagged China Law | Comment now »