Wed, 08 Feb 2012 10:33:51 GMT
Chinese government to support first time home purchasers
People's Bank of China is preparing to ease lending rules for first time house buyers to ensure cheaper house projects. Wei Yao, economist at Societe General admitted the decision is likely to spur private demand in rapidly fading property market. Nevertheless, Yao does not expect softer requirements for developers as the government still fears to fuel speculative demand.