China regulators urge more financing support for property firms -sources

BEIJING, Nov 13 (Reuters) – Chinese regulators have asked financial institutions to extend more support to property developers to shore up the sector, two sources with direct knowledge of the matter said on Sunday.

A notice to the institutions from the People’s Bank of China and the China Banking and Insurance Regulatory Commission covered 16 steps, such as loan repayment extensions, in a major push to ease a deep liquidity crunch since the summer of 2020.

The PBOC and CBIRC did not immediately respond to Reuters requests for comment.

Reporting by Liangping Gao and Ryan Woo; Editing by Clarence Fernandez

Our Standards: The Thomson Reuters Trust Principles.

Read more…