State-owned major banks act swiftly, with the first mortgage interest subsidy businesses implemented in many places across the country.

According to the Financial Times, on September 29, the Ministry of Finance, the People's Bank of China, and other departments issued the Notice on Implementing the Interest Subsidy Policy for Residential Housing Loans, specifying that starting from October 1 this year, the interest subsidy policy for residential housing loans will be implemented nationwide to ease the interest burden of commercial personal housing loans for families newly purchasing their first home. As of October 10, the interest subsidy policy for residential housing loans had been officially implemented nationwide for a full ten days. The reporter noted that after the policy was introduced, major state-owned banks responded actively and moved swiftly to ensure the policy took effect. During the National Day holiday, multiple provinces and cities across the country successfully implemented the first batch of housing loan interest subsidy business, and many eligible first-time homebuyers were among the first to benefit from the policy, with their home-purchasing pressure effectively eased.