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A customer selects residential housing units at a real estate sales department in Taiyuan, capital city of north China's Shanxi Province, September 6, 2022. /CFP
China's securities regulator on Monday urges major Chinese financial institutions and local authorities to pay close attention to the property sector's challenges and it pledges continuous support for the reasonable bond financing needs of real estate companies.
Regulators will support real estate-related companies to carry out mergers and acquisitions and support those with a certain proportion of real estate-related businesses to carry out equity financing, said Yi Huiman, head of the China Securities Regulatory Commission (CSRC), during the Financial Street Forum on Monday.
The property sector connects with many upstream and downstream industries, and its virtuous circle is of great significance to the healthy development of the economy, said Yi Gang, China's central bank governor, at the same event.
Yi added that China recently expanded its central bank-backed debt financing tools to include private companies' bond financing and property developers.
Separately, referring to the Beijing Stock Exchange, Yi Huiman said regulators would work to increase the liquidity in the stock market through reforms, further expanding its market capability and vitality in serving innovative small- and medium-sized companies.
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Disinformation report hotline: 010-85061466