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Chinese banksBNN
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78% Informative
Authorities ramping up a push to reduce mortgage costs after the central bank encouraged such support last year .
Lower mortgage rates would hurt profitability at state-run Chinese banks.
Authorities are facing renewed pressure to stem a housing-led slowdown in Asia ’s largest economy.
A Bloomberg index of Chinese developers jumped more than 8% in afternoon trading Friday .
The banking sector is struggling with falling earnings amid record low margins. China ’s outstanding amount of individual mortgages stood at 38.2 trillion yuan ( $5.4 trillion ) at the end of March , and count as prime assets at Chinese lenders. More than 90% of China ’s outstanding mortgages were for first homes as of late 2021 , according to the latest public data available from the banking regulator. (Adds market reaction, analyst comments throughout.) 2024 Bloomberg L.P ..
VR Score
89
Informative language
96
Neutral language
44
Article tone
formal
Language
English
Language complexity
54
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Attention-grabbing headline
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Known propaganda techniques
not detected
Time-value
short-lived
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