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CBIRC Vows To Ensure Home Project Delivery To Reassure Buyers-Daily

CHINA PRESS

China’s top banking regulator said it will support local governments to ensure the delivery of unfinished property projects, guide banks to actively help resolve funding gaps, and provide credit to qualified developers, the Securities Daily reported citing the China Banking and Insurance Regulatory Commission. The CBIRC will maintain the continuity and stability of real estate financial policies, the newspaper said. MNI notes that a wave of disgruntled homebuyers vowed to stop making mortgage payments on stalled projects has spread across the country starting in July.

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China’s top banking regulator said it will support local governments to ensure the delivery of unfinished property projects, guide banks to actively help resolve funding gaps, and provide credit to qualified developers, the Securities Daily reported citing the China Banking and Insurance Regulatory Commission. The CBIRC will maintain the continuity and stability of real estate financial policies, the newspaper said. MNI notes that a wave of disgruntled homebuyers vowed to stop making mortgage payments on stalled projects has spread across the country starting in July.