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China urges banks to maintain stable property financing

The Edge Markets LogoThe Edge Markets2 mo ago

China urges banks to maintain stable property financing - The Edge Markets

Quick Summary:

In a possible sign of willingness to shift away from the previous tightening stance on the real estate sector, PBOC governor Yi Gang emphasised on Monday that the industry is critical for the economy.

The remarks by Yi are "a rare recognition of the property sector's irreplaceable significance" by a top financial official, according to Lu Ting, chief China economist at Nomura in Hong Kong.

The call is the latest in a slew of actions taken by the government to try to stop the more than year long slump in the real estate market that is dragging down China's economic growth and undermining local government income.


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Article Details

Category: InvestingFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-21 @ 11:30:00 (2 months ago)

News Timezone: GMT +8:00

Ranking: #405 (out of 2706 stories this day)

News Source URL: news.google.com

Language: English

Article Length: 636 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Edge Markets

News ID: 1826089

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About The Edge Markets

The Edge Markets Logo

Main Topics: InvestingFinance

Official Website: theedgemarkets.com

Update Frequency: 12 posts per day

Year Established: 1994

Headquarters: Malaysia

News Last Updated: 9 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #17

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The story "China urges banks to maintain stable property financing" was covered 2 months ago by The Edge Markets, a news publisher based in Malaysia.

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The outlet is headquartered in Malaysia and publishes an average of 12 news stories per day.

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  • News ID: #1826089
  • URL: https://beamstart.com/news/china-urges-banks-to-maintain-16690307522189

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