Key facts
- Guangzhou has raised borrowing limits for its housing provident fund.
- The policy aims to boost China's real estate market.
- The maximum loan amount multiplier increased from eight to 10 times a worker's account balance.
- The new policy took effect on Tuesday.
Guangzhou has become the latest major Chinese city to raise borrowing limits for its housing provident fund, stepping up efforts to boost the country’s slumping real estate market through low-cost state financing. The new policy, which took effect on Tuesday, increases the multiplier used to calculate maximum loan amounts from eight to 10 times a worker’s account balance.