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China cuts downpayments on some home purchases

Analysts say a slowdown in real estate has been a drag on the overall economy - which grew 6.9% in 2015, its slowest pace in 25 years.


CHINA will cut the minimum downpayment for some home purchases by five percentage points, the central bank said on Tuesday, as it attempts to kick-start a sluggish housing market that is both cause and effect of a broader growth slowdown.

The People's Bank of China said on