China's Ministry of Finance said it will from Oct. 1 provide interest subsidies on newly issued commercial personal housing loans to lower homebuying costs and support first‑time, necessity-driven urban and rural demand. The subsidy targets ordinary families buying small, lower-priced units (unit area ≤120 sqm; purchase price ≤1.5 mln yuan). Eligible loan principal is capped at 1.0 mln yuan; the fiscal subsidy equals 1 percentage point (100 bps) annually for up to five years, about a one-third r

China's Ministry of Finance said it will from Oct. 1 provide interest subsidies on newly issued commercial personal housing loans to lower homebuying costs and support first‑time, necessity-driven urban and rural demand. The subsidy targets ordinary families buying small, lower-priced units (unit area ≤120 sqm; purchase price ≤1.5 mln yuan). Eligible loan principal is capped at 1.0 mln yuan; the fiscal subsidy equals 1 percentage point (100 bps) annually for up to five years, about a one-third reduction versus current first‑home commercial mortgage rates. The ministry estimates the policy could reduce cumulative interest paid by up to roughly 50,000 yuan on a long-term 1.0 mln yuan mortgage.