MNI BRIEF: China To Advance 2026 Funds For Urban Projects

Chinese authorities will issue a portion of the 2026 central fiscal subsidies for urban government-subsidised housing projects in advance, the Ministry of Finance announced on Wednesday.

The move will support work related to government-subsidised housing projects, the announcement said.

The Beijing local government will advance CNY4.5 billion in funds, with Shanghai at CNY8.6 billion, a breakdown on the ministry’s website showed.

China's five-year loan prime lending rate, the benchmark for setting mortgage rates, is likely to remain at 3.5% in November. (See MNI PBOC WATCH: Nov LPR To Hold, CGB Purchases)