The People’s Bank of China will promote a stable and healthy property market while working against excess speculation in the sector, said Pan Gongsheng, deputy governor of the central bank, at a briefing on Thursday.

The house market is recovering as pandemic curbs ease and mortgage rates go down led by a lower reference Loan Prime Rate for five-year and above tenors, Pan noted, predicting the housing demand would remain robust in the long term.

The central bank has guided banks to ensure lending demand by developers and increased credit support for mergers and acquisitions in the sector when financial risks of certain indebted companies spill over to the market, Pan noted.

Policy News Homepage Fiscal Government sector APAC China PBOC Brief Political Risk Story Policy Story Region Central Bank News

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Policy News Homepage Fiscal Government sector APAC China PBOC Brief Political Risk Story Policy Story Region Central Bank News

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MNI BRIEF: PBOC To Ensure A Stable And Healthy Property Market