4 Major CN Banks Lower Interest Rates for Buying 1st Home in Guangzhou: Report

　　The four major state-owned banks, namely ICBC, ABC, BOC and CCB, recently unanimously cut their mortgage interest rates for buying first home in Guangzhou by 20 bps to 3.2% (LPR-75bp), from 3.4% (LPR-55 BP), while second home interest rate was kept at 3.8% (LPR-15bp), according to Chinese media.

　　It is understood that some banks have already implemented the latest interest rates, while some are still waiting for the final notice.

　　Related NewsCiti: CHINA RES LAND, BEKE Are Key Beneficiaries of Improvement in CN Property Sector w/ Top Pick CCB Among CN Banks

　　AAStocks Financial News