The People’s Bank of China (PBOC) Shanghai Head Office; all provincial branches; branches in autonomous regions, municipalities directly under the Central Government, and cities specifically designated in the state plan; all policy banks; state-owned commercial banks; China Postal Savings Bank; and all joint-stock commercial banks:

The PBOC decides to reduce the interest rates on individual housing provident fund loans by 0.25 percentage points, effective May 8, 2025. Following the adjustment, the interest rate for first-home buyers using individual housing provident fund loans shall be 2.1% for loans with a term up to 5 years and 2.6% for loans with a term over 5 years. The interest rate for second-home buyers using individual housing provident fund loans shall be not less than 2.525% for loans with a term up to 5 years and not less than 3.075% for loans with a term over 5 years.

                                                       The People’s Bank of China  

                                                             May 7, 2025