People’s Bank of China and State Administration of Financial Supervision and Administration set a 30% national minimum down payment ratio for commercial home purchase loans

The People’s Bank of China, together with the State Administration of Financial Supervision and Administration, issued a notice setting the minimum down payment ratio for commercial housing purchase loans at not less than 30%. The floor applies to commercial housing, including “commercial and residential housing”. Provincial branches of the People’s Bank of China and provincial dispatched agencies of the State Administration of Financial Supervision and Administration will determine the city-level minimum down payment ratio lower limit within their jurisdictions, based on local government requirements and the principle of city-specific policies, anchored on the unified national minimum.