Beijing To Assure Help In Delivering Property Projects-Report

China’s top banking watchdog will support local governments to promote the delivery of property projects, an unnamed official from the China Banking and Insurance Regulatory Commission said in an interview with the China Banking and Insurance News. More homebuyers across the country are refusing to pay mortgages for unfinished or stalled housing projects recently, raising concerns about systemic risks. Banks should actively participate in the study of plans to reasonably solve the funding gap, and offer credit, the official was cited as saying. The regulator also said last week it would guide financial institutions to participate in risk disposal in a market-oriented manner.