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Core Viewpoint - The competition in the mortgage loan market among banks is intensifying as they seek to capture quality credit assets, with mortgage loans being viewed as a stable and low-risk option for driving retail credit growth [2][3] Group 1: Market Dynamics - Banks are increasingly focusing on mortgage loans due to the rising risks associated with personal business loans and retail loans, leading to tightened lending standards in those areas [2][3] - The mortgage loan balance of Ping An Bank reached 339.43 billion yuan as of March 2025, reflecting a 4.1% increase from the previous year, while personal business and consumer loans saw declines of approximately 0.3% and 3.2% respectively [3] - The People's Bank of China reported that the personal housing loan balance was 37.74 trillion yuan by the end of Q2 2025, showing a year-on-year decrease of 0.1% but an increase of 510 billion yuan in the first half of the year [3] Group 2: Competitive Strategies - Large state-owned and joint-stock banks are expanding their mortgage loan business through partnerships with real estate agencies, while smaller banks are focusing on service and efficiency to attract business [3][5] - Smaller banks are adjusting their internal funding allocations to ensure sufficient capital for mortgage loans, even reallocating retail consumer loan quotas to support this initiative [7] - Some smaller banks are relaxing their mortgage loan eligibility criteria to gain favor with real estate agencies and increase referral opportunities [7][8] Group 3: Operational Efforts - Banks are implementing measures to enhance the speed of customer response and loan approval processes, aiming to complete the mortgage application to disbursement cycle within two weeks [6] - Customer managers are under pressure to quickly process mortgage applications, with some banks assigning additional staff to assist with documentation and approval processes [6][11] - The competitive environment has led to some banks offering commissions to real estate agents to secure more mortgage business, despite regulatory concerns regarding such practices [12][13] Group 4: Future Outlook - To remain competitive, banks are encouraged to develop differentiated financial services, such as bundled offerings for developers and tailored mortgage products for different customer segments [13]