Chinese regulator urges banks to fund housing projects
A Chinese regulator on July 17 urged banks to lend to real estate developers, as homebuyers threatened to halt mortgage payments on unfinished housing projects across various cities.
The China Banking and Insurance Regulatory Commission (CBIRC) made the call as homebuyers across the country refused to pay their mortgages to protest housing project delays, state-owned newspaper China Banking and Insurance News reported.
Banks should “proactively take up their social responsibility and push for
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