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Branches of CCB Provide New Services
Residents in Shanghai, China's biggest industrial and commercial center, may make the down payments for their new houses now with loans offered by the local branch of the China Construction Bank (CCB).
Since they can apply for the loan with their old houses and the new houses they will buy as the mortgage, they don't have to afford the payment immediately, which usually accounts for over 20 percent of the cost of a new house and is a great burden for most people.
Insiders pointed out that the measure has greatly eased the pressure on those citizens who are not rich but hope to improve their living conditions.
Meanwhile, CCB's branch in Wenzhou City in east China's Zhejiang Province, offers a similar services, making it possible for individuals to subscribe to newspapers, pay utility bills, and buy cars and houses, as well as pay children's tuition fees, through the local outlets of the bank.
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