The central bank of China and the main banking regulator said on Tuesday that they will increase financial support for the domestic supply and demand system to support the economy, while ensuring stable and orderly financing for the real estate sector.
The People’s Bank of China and the Banking and Insurance Regulatory Commission of China They said major banks should ensure an adequate pace of credit issuance and further optimize the credit structure, the regulators said in a joint statement.
Chinese leaders have vowed to focus on stabilizing the economy in 2023, stepping up economic policy adjustments to cushion the impact of rising COVID-19 infections at a time when a weakening global economy is hurting exports. .
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“We need to offer financial services support to key areas such as infrastructure investment, small and micro-enterprises, technology and innovation, manufacturing and green development”the regulators said.
Regulators will also take steps to improve the operations and cash flow of high-quality real estate companies with some systemic importance.
They will guide the balance sheets of high-quality real estate companies back to a safe range, according to the statement.
Source: Reuters
Source: Gestion
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