Share
Copied
A sales person and a customer select residential housing units at a real estate sales department in southwest China's Guizhou Province, September 30, 2022. /CFP
Chinese banks have lent property developers 2.64 trillion yuan ($368.7 billion) from January to October in a move to stabilize the real estate market, an official from the China Securities Regulatory Commission (CSRC) said on Thursday.
The banking sector also provided mortgage loans of 4.84 trillion yuan during the period, the official told the Securities Times, an official CSRC-affiliated media.
Chinese authorities have put forward a number of measures to support the proper financing needs of real estate companies, including expanding a central bank-backed debt financing tool and issuing a special loan of 200 billion yuan to guarantee the delivery of property projects.
The People's Bank of China and the CSRC issued 16 financial measures on Wednesday to fully support the stable and healthy development of the property sector. On the same day, three of China's biggest commercial banks agreed to provide credit support to a couple of large property developers.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466