China Boosts Property Market

China has introduced new stimulus measures to boost the property market and support the weakening yuan. These measures include reducing minimum down payments for homebuyers and slashing interest rates on new mortgages. The government hopes that these policies will stimulate consumption and investment. Beijing is also taking steps to address the declining value of the yuan, such as cutting the amount of foreign currency banks must hold as reserves. The Chinese government is also implementing measures to boost household consumption, including tax breaks on childcare and education costs.