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China is weighing new measures to stabilise its ailing property market amid rising concerns that the sector’s downturn could spill over into the financial system, Bloomberg reported, sending shares of developers higher on Thursday.
Policymakers including the housing ministry are considering a range of measures, including offering subsidies on new residential mortgages nationwide for the first time, the report cited people familiar with the matter.
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Other options under consideration include raising income tax rebates for mortgage borrowers and cutting home transaction costs, according to the report.
It added that relevant departments have been discussing the new policies since at least the third quarter.
