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China's CCB to raise downpayment on 2nd homes

SHANGHAI: China Construction Bank plans to raise the downpayment requirement and interest rates for clients buying their second or subsequent homes, state media reported on Friday Feb 12.

The Shanghai Securities News cited CCB as saying at its annual meeting that the move was part of this year's plans for controlling the pace of lending.

It did not give details on how much the bank would be raising the downpayment and interest rates for people buying homes beyond their first home.- Reuters
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