Conditions for applying for renovation loan of ICBC: 1. Have permanent residence in cities and towns or valid residence status; 2 have a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan on time.

Legal objectivity:

People's Republic of China (PRC) Civil Code

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.