China regulators order more financing support for property firms -sources

Chinese regulators have told financial institutions to extend more support to property developers to shore up the country’s struggling real estate sector, two sources with direct knowledge of the matter said on Sunday. | Reuters

Chinese regulators are telling financial institutions to allow real estate companies to defer repayment of some loans, such as property development and trust loans, the sources said.

The sources declined to be named because the notice was confidential. The PBOC and CBIRC did not immediately respond to Reuters’ requests for comment. “That said, on the back of the COVID 20 ‘measures’, the property ’16 measures’ may generate notable market reactions without dramatically changing the current economic fundamentals,” Goldman Sachs analysts wrote, referring to steps announced on Friday to ease some of China’s coronavirus curbs.

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