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China's Property Industry Welcomes 'Most Supportive Policy' - Yicai

CHINA PRESS
MNI (Singapore)

China’s central bank and top banking regulator have co-released 16 measures to increase financial support for the property market, with analysts saying “the most supportive policy” provides reassurance, Yicai.com reported. New measures include exempting banks and their managers from responsibility should new lending aimed at ensuring the delivery of homes turn into bad loans, while asset management products like trusts are encouraged to support real estate financing for the first time, the newspaper said. These measures will accelerate the delivery of unfinished housing projects in Q4, ease developers’ liquidity pressures, control credit risk, and curb the decline in real estate investment, the newspaper said citing analysts.

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China’s central bank and top banking regulator have co-released 16 measures to increase financial support for the property market, with analysts saying “the most supportive policy” provides reassurance, Yicai.com reported. New measures include exempting banks and their managers from responsibility should new lending aimed at ensuring the delivery of homes turn into bad loans, while asset management products like trusts are encouraged to support real estate financing for the first time, the newspaper said. These measures will accelerate the delivery of unfinished housing projects in Q4, ease developers’ liquidity pressures, control credit risk, and curb the decline in real estate investment, the newspaper said citing analysts.