China will allow local government authorities to buy some homes at "reasonable" prices to provide affordable housing, Vice Premier He Lifeng told an online meeting on housing policy on Friday, the official news agency, Xinhua, said.

China will cut interest rates of mortgage loans and down-payment ratios for homebuyers to boost lacklustre property demand, according to three statements released by its central bank on Friday.

WANG BO, CHIEF OF SHANGHAI-BASED JURUN CAPITAL

"Adjusting down payments and mortgage rates are essentially restoring some of the financial attributes... Guaranteed home delivery is to restore the market's confidence towards purchasing homes.

"All policies are based on the logic of restoring confidence and asset prices."

ROCKY FAN, ECONOMIST, GUOLIAN SECURITIES

"The policies seem to be designed to prevent further fallout of the property crisis, but it takes time to reverse the downward trend of the sector."

  - Reuters