FX.co ★ China Mulls New Relief for Property Sector

Beijing is considering a new series of stimulus measures to bolster the struggling housing market, according to Bloomberg News. The proposed initiatives include national mortgage subsidies for first-time homebuyers, enhanced income-tax rebates for those with mortgages, and reduced costs for home transactions. If enacted, this package would represent China’s latest effort to mitigate an extended property downturn that has affected household wealth, reduced consumer spending, and strained banks' financial positions. It is reported that these plans have been under discussion since the third quarter, although the exact timing and final policy details have yet to be determined.