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Buying a Second House, Down Payment Reduced from 70% to 30% in Shenzhen, Bank Responds Urgently

The news of “Shenzhen second house down payment becomes 30%” quickly occupies the screen in the circle of friends. It’s said that CCB will launch a mortgage cloud loan policy and relax the mortgage loan policy. Down payment of the second house will be changed from 70% to 30%.

Down payment information spread online
Down payment information spread online

According to the news released by We Media, “CCB began to relax and add mortgage loans”, is this real?

The Interpretation of We Media
The Interpretation of We Media

Today, the Shenzhen Construction Bank told the reporter that recently, some information from the media about our branch’s reduction of the down payment for the second house was misread. At present, there is no change in the personal housing credit policy of Shenzhen Construction Bank. The down payment ratio of the first home loan is not less than 30%, and the down payment ratio of the second home loan is not less than 70%.

Since the policy has not changed, why are there misunderstandings?

The bank explained that it has introduced a series of small and micro-enterprise support policies. Misreading information from the media mentioned that the Shenzhen Branch’s inclusive financial loan product-“Cloud Quick Loan”, which specifically serves small and micro enterprises’ production and operation needs, the related measures do not involve personal housing loans.

According to related insiders, as early as February 19th, in the fourth quarter of 2019 Chinese currency execution report issued by the central bank, it reiterated once again that it insists on the positioning of houses for living, not speculation, and does not use real estate as a short-term stimulus Economic means.

In the early morning of February 28, the China Construction Bank Shenzhen Branch issued a statement.

The following is the original statement:

Some reports from the media that our branch lowered the down payment for the second house were misread. The personal housing credit business of our branch strictly implements the regulatory requirements and actively supports the stable and healthy development of the real estate market. At present, there is no change in the personal housing credit policy.

After the outbreak of coronavirus epidemic, in order to actively implement the central policy, serve the real economy, and support enterprises to resume production and resume production, our branch quickly launched a series of “resumption loans”, loan extensions, increased grace periods, repayment of loans without repayment, emergency measures such as easing the guarantee method will help small and micro enterprises affected by the epidemic accurately and supplement operating cash flow. Related measures do not involve personal housing loans.

Statement of CCB
Statement of CCB
Nancy Huang
Nancy Huang
I'm a journalist in Shenzhen, China. I have been working in several news agencies in China since 2008.


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