The People's Bank of China Shanghai Head Office promotes the stability of the real estate market and the optimization of financial policies.

The Shanghai Headquarters of the People's Bank of China emphasized the stability of the real estate market in the second half of 2024. It supported new policies to reduce mortgage down payments and interest rates. It promoted the "Sixteen Financial Measures" to encourage banks to issue property loans and activate real estate company assets. It utilized collateralized supplementary loans to support projects. It continued to provide financial services for building completion and increased financial support for housing rentals.

The central bank also coordinated to resolve the remaining P2P online lending business and strengthened market and financial monitoring. It implemented a 3000 billion yuan re-lending facility for affordable housing to promote a balance between renting and buying. It optimized investor fund management and pushed for financial market openness. It accelerated the deployment of affordable housing loans, with over 12 billion yuan already issued. It signed bond borrowing agreements with financial institutions and sold government bonds as circumstances required.

The central bank continued to drive policy implementation to promote healthy market development. It pushed for the interconnection of bond market infrastructure. It established a re-lending facility for affordable housing to expedite inventory reduction. It held promotion meetings to ensure policy execution.

Collateralized Supplementary Loans (PSL): A lending tool provided by the central bank to support funding needs in specific areas such as affordable housing and key projects.