06/12/2024 – 11:55
The real estate market entered the agenda of the meeting of the People’s Bank of China (PBoC), this Wednesday, 12th, according to a release made this Wednesday, 12th, by the Chinese BC. “The real estate sector is related to global economic functioning and financial stability”, says an excerpt from the statement, in a clear sign that the Chinese authorities are not only concerned, but also looking for ways out of the real estate crisis experienced in the country, since the giant Evergrande real estate company, entered into a default crisis and was declared bankrupt in January this year, totaling around US$300 billion.
One of the measures under debate is the establishment of refinancing for affordable housing and the encouragement of financial institutions to support local state-owned companies in purchasing existing commercial housing at reasonable prices.
More than that, the PBoC meeting talks about a real estate development policy that reduces existing commercial housing stocks, “through market-oriented methods, increasing the supply of affordable housing and supporting the guaranteed delivery of housing”.
In addition to PBoC members and political authorities, the Industrial and Commercial Bank of China and the China Construction Bank also participated in the meeting.
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