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CHINA Construction Bank (CCB) nike air max 97 sort , the country’s second-largest commercial bank by assets, has unveiled a credit loan product for tenants, as the government looks to develop the rental housing market, the People’s Daily reported.

Renters can apply for the mortgage loan to pay their rent and related costs in Shenzhen with a credit line of up to 1 million yuan (US$151,400), the newspaper said.

The bank said the loan is easy to obtain, with a swift one-day approval process nike air max 97 blå , and can be repaid within 10 years.

The bank’s Shenzhen branch signed strategic pacts Friday with 11 major property developers, including China Vanke and China Evergrande Group, and 11 companies and public institutions, including Shenzhen-based automaker BYD and EVOC Intelligent Technology, to launch 5,481 long-term rental homes on the Shenzhen market.

All of the homes are new and fully furnished, which future tenants can rent online through the official CCB application.

Li Zhongdong nike air max 97 hvid , deputy general manager of CCB’s Shenzhen branch, told the China Daily that the housing market in China is overdeveloped. “For many people, houses and apartments have deviated from their original function as places for living to serve as investment targets,” Li said. “Previously, sales was the only way for developers and investors to get their money back. As landlords select the best timing to sell their houses, tenants can rarely find high quality houses for long-term rentals, which has become a weak link in the supply-side of the housing market.”

CCB hopes to join hands with real estate developers to explore solutions to this problem by making supply-side reforms through financial measures vans slip on hvid , he added.

The bank will keep seeking houses for rent through cooperation with more developers, launch more rental-related financial products, and form a subsidiary at the headquarters level to operate rental housing platforms in pilot cities selected by the government.

Chen Zhilie, board chairman of EVOC Intelligent Technology, welcomed CCB’s efforts to encourage stable and long-term rental housing.

“Industrial companies generally saw a hike in operational costs in recent years, which was caused in part by rising housing prices. Through cooperation with CCB, corporate tenants will be able to retain more talents vans slip on tilbud ,” Chen said.

The Central Government issued a notice in July, selecting 12 large and medium-sized cities including Shenzhen to accelerate the development of the rental housing market.

To limit housing speculation, China has tightened home purchase restrictions in multiple cities. Under the restrictions, some real estate developers are willing to offer part of their housing inventory for long-term rent to ease capital shortage.

Zhu Haifeng, vice president of Xin Hai Holdings, a Shenzhen-based developer, said: “CCB acquired from our company a right to lease 600 homes and agreed to pay 25 years’ rent at once vans toy story danmark , thus helping us with capital recovery.”

Apart from CCB, several other commercial banks, such as Bank of China and China CITIC Bank, as well as Internet giants such as Alibaba Group and JD Inc., also announced their plan to enter the rental housing market.

China’s rental housing marketing was worth 1.1 trillion yuan in 2016, a Securities Times report said, quoting research findings. The market is expected to be valued at 1.9 trillion yuan in 2025 and more than 4 trillion in 2030.

(Shenzhen Daily-Agencies)

by Maria Spiliopoulou

ANCIENT OLYMPIA vans sk8 hi hvid , Greece, Oct. 23 (Xinhua) -- South Korea is ready to give the world great Winter Olympic Games in February 2018, President of the PyeongChang Organizing Committee for the Olympic and Paralympic Winter Games (POCOG) Lee Hee-beom said on Monday from ancient Olympia in western Greece, the birthplace of the Games.

"We are ready to welcome the world," he told a press briefing here, after the dress rehearsal of the lighting ceremony of the Olympic flame which will be burning for the PyeongChang Games was successfully held on the site which hosted the first Olympics 2,500 years ago.

All venues are complete and hosts are set to deliver successful Games on Feb. 9-25 vans sk8 hi sort , he said.

PyeongChang Winter Olympic Organizing Committee's vision is opening new horizons, and cross border cooperation to promote the ideals of the Games is essential, the South Korean delegation stressed.

As Beijing will host the next Winter Olympics in 2022, POCOG is already cooperating with Chinese officials to exchange knowhow, Lee told Xinhua.

"Olympic Games is not only a sports event, but also a culture event and an event of technology... We can share our experience... We are sharing steps... We will work together to share experience," he said.

"In terms of working together we are already working very closely together vans old skool dame ," Kim Jae-youl, executive vice president of the POCOG, stressed, adding that for the host countries the Games represent a great opportunity to develop winter sports.

Greek cross-country skier and biathlon athlete Apostolos Angelis who was chosen as the first torchbearer also expressed hope that more people will get inspired to take up sports and discover how they bring people closer.

Angelis has been a torchbearer in the past for the Sochi and the Vancouver Winter Olympics, but on Tuesday when the official flame lighting ceremony will be conducted at Olympia, it will be the first time he will lead the torch relay.

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