Recently in Shanghai, branches of Industrial and Commercial Bank of China and other lenders, including the Postal Savings Bank of China and the Bank of Communications, say the new first time home buyers can pay their mortgage loans under the benchmark interest rate. Shanghai branches of the China Construction Bank or CCB, have issued the encouraging policy on first home loan rates to entice qualified potential buyers. One bank employee explains: "According to the customer's credit records and repayment abilities, we can adjust the loan rate. On the special conditions, some customers will be entitled to a 10% discount on first home loan rates." Xue Jianxiong, a senior analyst at the China Real Estate Information Corporation, says the China's central bank，the People's Bank of China adjusted the deposit-reserve ratio last November, making additional 400 billion yuan available and the lending quotas more flexible. "I think both the deposit-reserve ratio and the interest rate will probably be reduced in 2012. That means the banks are supposed to lend more loans in a relatively relaxed environment and provide some discounted loan rates."