On August 4th, Tianjin Municipal Development and Reform Commission issued "Several Measures to Promote Consumption Rebound and Boost in Tianjin" (draft for comments), and the consultation period was from August 4th to August, 2022 12. The exposure draft clarifies the promotion of consumption, especially in the housing sector.

In terms of stabilizing housing consumption, the above-mentioned exposure draft pointed out that houses are used for living, not for speculation, supporting zoning policies to promote the stable and healthy development of the real estate market, optimizing personal housing credit policies, guiding financial institutions to reduce housing loan interest rates, and reducing the down payment ratio of housing commercial loans, ensuring rigid housing demand and reasonably supporting improved demand.

For households without housing and housing loan records (including housing provident fund loans), the minimum down payment ratio for purchasing the first suite in Tianjin is 30%. At present, there is no relevant policy to adjust the down payment ratio.

In this regard, Yan Yuejin, research director of the think tank center of Yiju Research Institute, said: "This policy fully shows that Tianjin has adopted a positive and comprehensive stimulus approach to the field of housing purchase from the perspective of stabilizing consumption, which has a positive effect on stimulating housing consumption and stabilizing the consumer market. Strategically, the New Deal mentioned the zoning policy, which reduced the housing loan interest rate and down payment ratio, which also means that Tianjin will have the possibility of actively adjusting relevant policies. "

In addition, in terms of expanding residents' consumption, the above-mentioned exposure draft proposes to encourage the holding of online and offline real estate and home improvement exhibitions, and guide real estate development enterprises to carry out activities such as selling houses and giving away home improvement, furniture and household appliances, so as to release consumption potential.