Xinhua Headlines: China abolishes mortgage floor rates, cuts minimum down payment ratios to boost property market

BEIJING, May 17 (Xinhua) -- China on Friday announced a slew of measures to boost the property market, cutting minimum down payment ratios, setting up a relending facility for affordable housing and pledging to deliver unfinished homes.

The People's Bank of China (PBOC) and the National Financial Regulatory Administration announced that the minimum down payment ratios for individuals' commercial housing mortgage