Home loan rates for first-time buyers rise as Beijing tries to curb property market
(WorldNews China)

Home loan rates are going up in Beijing and other big Chinese cities as the government tries to discourage people from buying property with huge loans. The rate increases target new borrowers – those with existing mortgages will not be affected. China’s big four state banks – the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and the Bank of China – began earlier this month charging 105 per cent of the benchmark rate to first......