1st LD: China abolishes mortgage floor rates, cuts minimum down payment ratios to boost property market

BEIJING, May 17 (Xinhua) -- China on Friday cut the minimum down payment ratios for individuals' commercial housing mortgages and abolished mortgage floor rates nationwide as the country moves to boost the property market.

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