Posted 11/20/2023, 5:53:00 AM
China Orders Banks to Support Property Developers Amid Real Estate Slump
- China's financial regulators ordered institutions to meet property developers' funding needs regardless of ownership
- Banks should not demand early loan repayment from developers
- Regulators want lenders to balance offerings and plan credit for rest of 2022 and 2023
- Aim is to bolster real estate market and halt sector's deepening slump
- Comes amid warnings about financial risks from struggling Chinese property sector