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China Daily | Updated: 2015-03-25 07:45
Governments and policies
Report: Shanghai to lift limit on home loans
Shanghai may raise the ceiling for housing loans under its provident fund by as much as 75 percent, the Shanghai Securities News reported on Tuesday. Currently, an individual in Shanghai can borrow up to 400,000 yuan ($64,376) from the fund to buy a home. The limit for a family is double that amount. The local government is considering raising the ceiling to 700,000 yuan and 1.2 million yuan, respectively, the newspaper said, citing unidentified officials at the Shanghai Provident Fund Management Center.
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