Recently CCB launched ten new services of individual housing loans at the 2006 China Real Estate Finance Forum & the Third Quality House Properties Award Ceremony.

On June 22, CCB spokesperson announced that with the purpose of “serving the public, seeking win-win development and building harmony” CCB would launch ten housing loan services to stimulate the healthy development of the Chinese real estate market and real estate finance, promote the win-win cooperation between the bank and real estate developers, raise the living standards of the public and meet the needs of ordinary people for housing.

According to the spokesperson, the ten services of CCB aim at meeting the needs of ordinary people for houses, mainly including offering preferential credit interest rates to lower the interest burden of customers and “grace period” payment. Customers who face heavy financial pressure before the delivery of house properties may choose only paying the interest during the period from receiving the loan to the delivery of properties and then paying both the principal and interest after the delivery of properties. The “flexible repayment” enables customers to choose the repayment interval according to their own financial position. In addition to monthly repayment, customers may choose two-month or quarterly repayment. The incremental repayment allows the customers with potential of income increase, especially some young people to make smaller amount of repayment at the very beginning and gradually increase the repayment amount. The “family loan” allows the families of those individuals who have financial difficulties of affording properties independently to pay off the loan together. Related expenses during the credit application process are reduced or exempted. The optimization and innovation of credit application procedures reduce or cancel the possible assessment fee, insurance premium and related commission. The bank also offers the service of “applying for CCB Long Credit Card for free”. Customers who apply for housing loans in CCB can apply for the Long Credit Card simultaneously and enjoy a number of preferential services such as reduction and exemption of annual fee and free insurance. CCB provides the “transparent credit” service, promising to feed back the initial opinion on whether credit can be issued or not within 2 days after the customers submit the complete credit application documents and make confirmation on whether the credit is approved or not within 5 days, which makes the customers be informed of the credit examination process. We relieve customers from the trouble of presenting materials which CCB itself can check. Our “perfect public accumulation fund” credit service uses the low interest rate of public accumulation fund credit and designs the customer-tailored public accumulation fund credit and repayment plans and the combination of public accumulation fund credit and commercial credit. We provide the “mixed interest rate loans” for customers. As the interest rate fluctuates, customers may choose the product combining fixed interest rate and floating interest rate to cope with interest rate risk.

CCB spokesperson said that since customers have diversified needs, CCB will faithfully implement the customer-centric philosophy and keep with product and service innovation to meet customer needs with tangible acts and help customers realize their housing dream.