Chinese regulators throw lifeline to struggling developers
Hong Kong-listed mainland property stocks surge as banks told to offer loan extensions
China’s central bank and banking regulator announced a raft of new measures to rescue the cash-strapped property market, including asking banks to grant loan repayment extensions by a full year.
The People’s Bank of China (PBoC) and the China Banking and Insurance Regulatory Commission (CBIRC) outlined 16 points to support the industry, in a notice sent to the regulators’ local branches and financial institutions such as banks, asset management firms and insurance companies on November 11.
The
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