China’s Shenzhen eases mortgage rules for first-home purchases

BEIJING (Reuters) -The Chinese tech hub of Shenzhen issued a notice on Wednesday saying it would let people take preferential loans for first-home purchases regardless of their credit record from Aug. 31, the second major city to ease mortgage rules.

The move came after Chinese authorities called on cities on Friday to broaden the definition of first-home mortgages to revive the troubled property market.

Guangzhou was the first major city to respond and ease mortgage curbs.

(Reporting by Ella Cao, Liangping Gao and Ryan Woo; Editing by Andrew Heavens)