China Refinance Market is projected to grow at a CAGR of approximately 6.5% from 2024 to 2034.

China Home Loan Market size was valued at USD 37.8 Trillion in 2024 and is projected to reach USD 59 Trillion by 2032, growing at a CAGR of 5.7 % from 2026 to 2032. The China home loan market is primarily driven by rapid urbanization, rising disposable incomes, and supportive government policies. As more people migrate to cities, the demand for housing increases, leading to a surge in mortgage financing. Government initiatives, such as reduced down payments and lower mortgage rates, have made homeownership more accessible, further fueling market growth.​ Additionally, the digitalization of mortgage services has streamlined the loan approval process, enhancing customer experience and attracting more borrowers. The growing middle class, with higher income levels, is increasingly investing in property, contributing to the expansion of the home loan market. These factors collectively create a robust environment for the continued growth of China's home loan sector.

Hong Kong HK: Residential Mortgage: New Loans Approved: Refinancing data was reported at 42.916 % in Sep 2018. This records an increase from the previous number of 36.362 % for Aug 2018. Hong Kong HK: Residential Mortgage: New Loans Approved: Refinancing data is updated monthly, averaging 18.699 % from Dec 2000 (Median) to Sep 2018, with 214 observations. The data reached an all-time high of 42.916 % in Sep 2018 and a record low of 6.165 % in Apr 2009. Hong Kong HK: Residential Mortgage: New Loans Approved: Refinancing data remains active status in CEIC and is reported by Hong Kong Monetary Authority. The data is categorized under Global Database’s Hong Kong SAR – Table HK.KB008: Residential Property Loans: Residential Mortgage Survey: Ratios.

China Local Government Debt Issuance: Year to Date: Replacement or Refinancing data was reported at 1,373,700.000 RMB mn in Jul 2018. This records an increase from the previous number of 1,078,000.000 RMB mn for Jun 2018. China Local Government Debt Issuance: Year to Date: Replacement or Refinancing data is updated monthly, averaging 1,078,000.000 RMB mn from Dec 2015 (Median) to Jul 2018, with 11 observations. The data reached an all-time high of 4,870,000.000 RMB mn in Dec 2016 and a record low of 0.000 RMB mn in Jan 2018. China Local Government Debt Issuance: Year to Date: Replacement or Refinancing data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: Local Government: Issuance.

The China home loan market, a significant driver of the nation's real estate sector, exhibits robust growth potential. With a market size exceeding [Estimate based on available data – e.g., ¥5 trillion in 2025] and a Compound Annual Growth Rate (CAGR) exceeding 6%, the market is projected to reach [Estimate based on CAGR and 2025 value – e.g., ¥7.5 trillion] by 2033. This expansion is fueled by several key drivers, including a burgeoning middle class with increasing disposable income, supportive government policies aimed at boosting homeownership, and ongoing urbanization driving demand for housing in rapidly developing cities. Key market segments include home purchases, which dominate market share, followed by refinancing and home improvements. The end-user segment is largely driven by employed individuals and professionals, indicating a strong correlation between economic stability and home loan demand. Tenure-based segmentation reveals a diverse market, with significant representation across all tenure groups, highlighting the longevity and stability of the home loan market within China. However, the market faces potential restraints including government regulations aimed at curbing excessive borrowing, fluctuating interest rates, and concerns regarding potential housing bubbles in certain regions. The competitive landscape is dominated by major state-owned banks such as ICBC, Bank of China, and China Construction Bank, showcasing the significant role of these institutions in facilitating home loans. However, the presence of private and smaller banks demonstrates a degree of competition and market diversification. Future growth hinges on sustained economic growth, effective government policies, and responsible lending practices to mitigate risks and ensure market stability. Understanding these dynamics is crucial for businesses operating within this sector and for investors seeking exposure to this high-growth market. Further detailed analysis of regional variations within China is required for a comprehensive understanding of localized market opportunities and challenges. This includes identifying pockets of high growth and understanding the specific factors driving demand in various provinces and municipalities. Recent developments include: March 2023: ICBC implemented a set of policies and subsequent actions to stabilize the economy; promptly issued specific measures to stabilize growth; implemented forward-looking, accurate, and appropriate measures to emphasize its core responsibility and core business; and led and supported real economy growth through financial services., October 2022: China Everbright Limited's (Stock code: 165. HK) CEL-Catalyst China-Israel Fund is pleased to announce that its portfolio company SatixFy successfully listed on NYSE American on 28th October 2022 with the symbol 'SATX', via a merger with Endurance Acquisition Corp. (NASDAQ: EDNC), a publicly traded special purpose acquisition company, or SPAC.. Key drivers for this market are: Real Estate Market Trends, Government Policies. Potential restraints include: Real Estate Market Trends, Government Policies. Notable trends are: Impact of Increasing Household Consumption on Home Loan Market in China.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

CN: Margin Refinance: CSF: Lend Securities Turnover: Rate: Weighted Avg: 29-91 Day data was reported at 1.910 % pa in 21 Jan 2025. This records a decrease from the previous number of 2.200 % pa for 24 Dec 2024. CN: Margin Refinance: CSF: Lend Securities Turnover: Rate: Weighted Avg: 29-91 Day data is updated daily, averaging 2.380 % pa from Jun 2023 (Median) to 21 Jan 2025, with 14 observations. The data reached an all-time high of 3.790 % pa in 15 Oct 2024 and a record low of 1.910 % pa in 21 Jan 2025. CN: Margin Refinance: CSF: Lend Securities Turnover: Rate: Weighted Avg: 29-91 Day data remains active status in CEIC and is reported by China Securities Finance Co Ltd. The data is categorized under China Premium Database’s Financial Market – Table CN.ZA: CSF: Margin Refinance: Daily.

Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Henan: Zhengzhou data was reported at 16,093.800 RMB mn in 2022. This records an increase from the previous number of 8,417.600 RMB mn for 2021. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Henan: Zhengzhou data is updated yearly, averaging 8,417.600 RMB mn from Dec 2020 (Median) to 2022, with 3 observations. The data reached an all-time high of 16,093.800 RMB mn in 2022 and a record low of 8,263.070 RMB mn in 2020. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Henan: Zhengzhou data remains active status in CEIC and is reported by Zhengzhou Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.

China Local Government Debt Issuance: Replacement or Refinancing data was reported at 295,600.000 RMB mn in Jul 2018. This records an increase from the previous number of 218,600.000 RMB mn for Jun 2018. China Local Government Debt Issuance: Replacement or Refinancing data is updated monthly, averaging 218,600.000 RMB mn from Nov 2017 (Median) to Jul 2018, with 9 observations. The data reached an all-time high of 338,200.000 RMB mn in May 2018 and a record low of 0.000 RMB mn in Jan 2018. China Local Government Debt Issuance: Replacement or Refinancing data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: Local Government: Issuance.

Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Heyuan data was reported at 1,423.330 RMB mn in 2023. This records an increase from the previous number of 754.510 RMB mn for 2022. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Heyuan data is updated yearly, averaging 694.815 RMB mn from Dec 2016 (Median) to 2023, with 8 observations. The data reached an all-time high of 3,577.010 RMB mn in 2021 and a record low of 0.000 RMB mn in 2018. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Heyuan data remains active status in CEIC and is reported by Heyuan Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.

CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Hebei: Tangshan data was reported at 3,667.000 RMB mn in 2023. This records a decrease from the previous number of 6,230.000 RMB mn for 2022. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Hebei: Tangshan data is updated yearly, averaging 3,133.500 RMB mn from Dec 2018 (Median) to 2023, with 6 observations. The data reached an all-time high of 6,230.000 RMB mn in 2022 and a record low of 380.000 RMB mn in 2019. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Hebei: Tangshan data remains active status in CEIC and is reported by Tangshan Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.

Local Government Bond: Issuance: Replacement or Refinancing: Special: Guangdong: Yunfu data was reported at 2,276.790 RMB mn in 2023. This records an increase from the previous number of 1,285.000 RMB mn for 2022. Local Government Bond: Issuance: Replacement or Refinancing: Special: Guangdong: Yunfu data is updated yearly, averaging 642.500 RMB mn from Dec 2018 (Median) to 2023, with 6 observations. The data reached an all-time high of 2,276.790 RMB mn in 2023 and a record low of 0.000 RMB mn in 2020. Local Government Bond: Issuance: Replacement or Refinancing: Special: Guangdong: Yunfu data remains active status in CEIC and is reported by Yunfu Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Issuance: Replacement or Refinancing.

CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Yunfu data was reported at 109.240 RMB mn in 2023. This records a decrease from the previous number of 226.290 RMB mn for 2022. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Yunfu data is updated yearly, averaging 109.240 RMB mn from Dec 2017 (Median) to 2023, with 7 observations. The data reached an all-time high of 3,650.900 RMB mn in 2021 and a record low of 2.200 RMB mn in 2017. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Guangdong: Yunfu data remains active status in CEIC and is reported by Yunfu Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.

CN: Local Government Bond: Issuance: Replacement or Refinancing: Heilongjiang: Harbin data was reported at 48,473.450 RMB mn in 2023. This records an increase from the previous number of 24,128.490 RMB mn for 2022. CN: Local Government Bond: Issuance: Replacement or Refinancing: Heilongjiang: Harbin data is updated yearly, averaging 26,953.675 RMB mn from Dec 2018 (Median) to 2023, with 6 observations. The data reached an all-time high of 48,473.450 RMB mn in 2023 and a record low of 12,226.790 RMB mn in 2019. CN: Local Government Bond: Issuance: Replacement or Refinancing: Heilongjiang: Harbin data remains active status in CEIC and is reported by Harbin Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Issuance: Replacement or Refinancing.

China Number of Securities Company: Qualification: Refinancing Business data was reported at 94.000 Unit in 2023. This stayed constant from the previous number of 94.000 Unit for 2022. China Number of Securities Company: Qualification: Refinancing Business data is updated yearly, averaging 92.000 Unit from Dec 2012 (Median) to 2023, with 12 observations. The data reached an all-time high of 94.000 Unit in 2023 and a record low of 30.000 Unit in 2012. China Number of Securities Company: Qualification: Refinancing Business data remains active status in CEIC and is reported by China Securities Regulatory Commission. The data is categorized under China Premium Database’s Financial Market – Table CN.ZZA: Number of Securities Company and Business Department.

CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: Special: Guangdong: Guangzhou data was reported at 14,089.000 RMB mn in 2023. This records an increase from the previous number of 10,830.000 RMB mn for 2022. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: Special: Guangdong: Guangzhou data is updated yearly, averaging 10,830.000 RMB mn from Dec 2017 (Median) to 2023, with 7 observations. The data reached an all-time high of 14,156.000 RMB mn in 2021 and a record low of 0.000 RMB mn in 2020. CN: Local Government Bond: Local Level: Issuance: Replacement or Refinancing: Special: Guangdong: Guangzhou data remains active status in CEIC and is reported by Guangzhou Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.

Local Government Bond: Issuance: Replacement or Refinancing: General: Liaoning: Huludao data was reported at 4,521.000 RMB mn in 2020. This records an increase from the previous number of 4,086.000 RMB mn for 2019. Local Government Bond: Issuance: Replacement or Refinancing: General: Liaoning: Huludao data is updated yearly, averaging 4,086.000 RMB mn from Dec 2018 (Median) to 2020, with 3 observations. The data reached an all-time high of 4,521.000 RMB mn in 2020 and a record low of 300.000 RMB mn in 2018. Local Government Bond: Issuance: Replacement or Refinancing: General: Liaoning: Huludao data remains active status in CEIC and is reported by Huludao Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Issuance: Replacement or Refinancing.

CN: Local Government Bond: Issuance: Replacement or Refinancing: Guangdong: Yangjiang data was reported at 3,047.220 RMB mn in 2023. This records an increase from the previous number of 2,628.440 RMB mn for 2022. CN: Local Government Bond: Issuance: Replacement or Refinancing: Guangdong: Yangjiang data is updated yearly, averaging 2,324.315 RMB mn from Dec 2018 (Median) to 2023, with 6 observations. The data reached an all-time high of 3,811.140 RMB mn in 2021 and a record low of 218.950 RMB mn in 2019. CN: Local Government Bond: Issuance: Replacement or Refinancing: Guangdong: Yangjiang data remains active status in CEIC and is reported by Yangjiang Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Issuance: Replacement or Refinancing.

Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Gansu: Lanzhou data was reported at 2,320.240 RMB mn in 2023. This records an increase from the previous number of 1,474.000 RMB mn for 2022. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Gansu: Lanzhou data is updated yearly, averaging 675.000 RMB mn from Dec 2018 (Median) to 2023, with 6 observations. The data reached an all-time high of 2,320.240 RMB mn in 2023 and a record low of 0.000 RMB mn in 2021. Local Government Bond: Local Level: Issuance: Replacement or Refinancing: General: Gansu: Lanzhou data remains active status in CEIC and is reported by Lanzhou Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Bond: Prefecture Level City: Local Level: Issuance: Replacement or Refinancing.