China plans new real estate financing rules

Global Economy

Reuters
23 August, 2020, 01:40 pm
Last modified: 23 August, 2020, 01:47 pm
PBOC and the housing ministry will form capital and financing management rules for key real estate companies, the central bank said in a statement
Workers are seen on scaffolding at a construction site in Nantong, Jiangsu province, China January 1, 2019. Photo:Reuters

China will institute new rules in real estate financing, its central bank said on Sunday.

The move comes after China's Ministry of Housing and Urban-Rural Development and the People's Bank of China (PBOC) held a conference last week in Beijing with property companies and other government bodies to discuss a long-term mechanism for regulation of the real estate market.

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PBOC and the housing ministry will form capital and financing management rules for key real estate companies, the central bank said in a statement, without elaborating.

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