Pan Gongsheng: Multiple mortgage policies can reduce interest expenses for more than 50 million households by about 300 billion yuan each year.

On September 22, the governor of the central bank, Pan Gongsheng, stated at a press conference held by the State Council Information Office that during the "14th Five-Year Plan" period, in terms of financial support for resolving risks in the real estate sector, policies such as optimizing and adjusting the down payment ratio and mortgage interest rates will be implemented. The existing mortgage interest rates will also be reduced, saving over 500 million households about 300 billion yuan in interest payments annually.