Screenshots from a mainland Chinese website displayed that Guangxi Beibu Gulf Bank launched a function on its mobile banking app that allows customers to reset the repricing cycle of the interest rate on existing mortgages, with options of “January 1 each year”, “3 months”, “6 months” or “12 months”, according to a report by Cailian Press. Verified with the customer service of the Bank, the content of the screenshot is authentic, and the business path will be launched on October 30.

Six major state-owned banks of China, namely ICBC (01398.HK)  0.000 (0.000%)    Short selling $387.80M; Ratio 26.370%   , ABC (01288.HK)  +0.040 (+0.881%)    Short selling $183.33M; Ratio 32.254%   , BANK OF CHINA (03988.HK)  -0.010 (-0.231%)    Short selling $427.97M; Ratio 31.744%   , CCB (00939.HK)  -0.010 (-0.149%)    Short selling $524.13M; Ratio 23.910%   , BANKCOMM (03328.HK)  -0.010 (-0.152%)    Short selling $49.00M; Ratio 33.161%   and PSBC (01658.HK)  -0.030 (-0.609%)    Short selling $47.73M; Ratio 24.484%   , announced today that they will successively implement a new pricing mechanism for commercial personal housing loan interest rates starting tomorrow (November 1). At the same time, they clearly remove the restriction that the minimum reset period for mortgage interest rates is one year.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-20 16:25.)

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