Peng Liyuan, wife of Chinese President Xi Jinping, on invitation visited the Buda Castle and had tea chat with Zsuzsanna Nagy, wife of Hungarian President Tamas Sulyok, in Budapest on Thursday.
The wives of the two heads of state appreciated the exhibition of Hungarian Herend porcelain and traditional embroidery craftsmanship.
Peng said she is impressed by the exquisite Hungarian porcelain and superb embroidery craftsmanship.
Porcelain and embroidery are common symbols of the civilizations of China and Hungary, Peng said, adding it is hoped that artists from both countries strengthen exchanges and mutual learning, and promote cultural integration.
The two listened to a briefing on the restoration of the Szent Istvan Hall of the Buda Castle.
Appreciating the exquisite restoration skills of Hungarian experts, Peng raised her hope that the two sides would strengthen cooperation in the protection and restoration of cultural relics, so that historical legacies could be better passed on.
Hungary is a beautiful country and its people are hospitable, Peng said during her friendly and cordial chat over tea with Nagy.
There are many similarities between the cultures of China and Hungary, and the two peoples share a deep sense of affinity, Peng said.
The friendship between the two countries has a solid foundation, she said, adding she hopes that the friendship between the two countries will be passed on from generation to generation and grow stronger over time.
Peng Liyuan visits Buda Castle with wife of Hungarian president
Peng Liyuan visits Buda Castle with wife of Hungarian president
Peng Liyuan visits Buda Castle with wife of Hungarian president
Peng Liyuan visits Buda Castle with wife of Hungarian president
China's new package of policies including cutting mortgage rates and reducing down-payment ratio to an unprecedented low shows the government's determination to prop up the housing market, experts told CGTN on Monday.
China on Friday announced a slew of measures to boost the property market: reducing the loan rates of the individual housing provident fund by 0.25 percentage points, lowering the minimum down payment ratios for individuals' commercial housing mortgages to 15 percent for first-home purchases and 25 percent for second-home purchases, and scrapping the floor level of commercial mortgage rates for first and second homes.
Additionally, top policy makers have urged state-owned enterprises to purchase existing homes and land from debt-burdened developers, and renovate them to create affordable housing. And the central bank is launching a 300-billion-yuan or about 41.5 billion U.S. dollar re-lending facility to help finance those renovation projects.
Experts said these steps are expected to be a boost to the property market by helping developers navigate the liquidity crunch and encouraging more people to buy starter homes or replace their old apartments with new ones.
"From the supply side, the Chinese government will successfully inject liquidity into the property developers, by letting state-owned entities purchase existing homes and land. On the demand side, a lower down payment ratio plus lower mortgage rates can stimulate buying among residents who need a starter home or an upgrade," said Tang Zhehui, managing partner of Ernst and Young (EY) Greater China's Real Estate Sector.
Chinese authorities have been stepping up financial support for the property sector, as the minimum down-payment ratios are down to the lowest in history. Analysts believe the latest policies are sending a positive signal.
"I think they are quite positive. The down payment ratio for first-time buyers is cut to a historic low of 15 percent. That really demonstrates the government's determination to support the property market," said John Lam, real-estate analyst at UBS Greater China.
As evidence of the government's increased financial efforts to support the property sector, commercial banks across the country issued a total of 963.6 billion yuan in real estate development loans and 1.3 trillion yuan in individual housing loans in the first quarter of the year, both showing significant increases compared with the fourth quarter of last year, according to Xiao Yuanqi, deputy head of the National Financial Regulatory Administration.
Housing is at the base of people's livelihoods and the root of many people's life. At a teleconference focusing on ensuring the delivery of housing projects on Friday, Chinese Vice Premier He Lifeng urged further efforts to push forward the construction of government-subsidized housing, dual-use public infrastructure that can accommodate emergency needs, and the redevelopment of urban villages.
Local governments of regions where there are relatively large commercial housing stocks are allowed to buy some homes at reasonable prices and provide them as affordable housing, according to He.
'Historic' steps show Chinese government resolved to bolster housing market: experts
