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Banks Required To Quicken Credit For Recommended Property Projects

CHINA PRESS
MNI (Singapore)

All commercial banks must take the initiative to conduct timely reviews of recommended real-estate projects in the “whitelist” and accelerate credit approval to ensure that all reasonable financing needs are met, according to a statement by the National Administration of Financial Regulation on its website. Local financial regulatory bureaus must set up a special work team to proactively strengthen coordination with local governments and housing departments to promote the stable and healthy development of the real-estate market.

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