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China’s Big Four Banks May Ease Mortgage Policies: Herald

China’s four biggest banks may ease mortgage lending, the latest in a series of policy steps aimed at supporting the country’s sliding property market, the 21st Century Business Herald reported yesterday.

Criteria for loans to first-home buyers may be eased and people who have paid off outstanding mortgages may be considered eligible for first-home status, the newspaper said, citing unidentified people at Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. Executives at Bank of China Ltd. met yesterday to discuss adjusting mortgage policies, according to the report, citing an unidentified person. The report didn’t say if the change applied to those who already own more than one home.