A construction site in Shenzhen, where banks have been lowering their mortgage rates. Photo: AFP

Shenzhen banks become first in China’s megacities to ease mortgage rates – others may follow suit, say analysts

  • China Merchants Bank is offering rates as low as 5 per cent above the benchmark, compared with 10 per cent at most lenders
  • Local authorities have been given more leeway by Beijing to control their own property markets
Topic |   China property

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A construction site in Shenzhen, where banks have been lowering their mortgage rates. Photo: AFP
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Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.