China central bank extends policies for financial support of real estate market

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

BEIJING : China's central bank on Monday extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, with current supports for the sector failing to gain traction and markets expecting more stimulus to be rolled out soon.Last November, the People's Bank of

BEIJING : China's central bank on Monday extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, with current supports for the sector failing to gain traction and markets expecting more stimulus to be rolled out soon.

The extended policies encourage financial institutions and property firms to negotiate independently, and actively support property developers through the rollover of existing loans and the adjustment of repayment arrangements, the People's Bank of China said in a statement. Separately, loans issued to support the delivery of unfinished projects before the end of 2024 will not be downgraded in risk classification during the loan term, the central bank said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines