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PBOC Clarifies 16-Point Real Estate Plan

CHINA PRESS
MNI (BEIJING)

The PBOC clarified that private and state-owned firms should be treated equally under its recently unveiled 16-point support plan for the real estate sector, in a notice issued on its website on Wednesday. The central bank said loan restructuring should protect creditors and allow independent commercially driven negotiations between financiers and real-estate developers. The PBOC will support high-quality real estate firms to acquire distressed assets using market orientated methods, and will use policy banks to issue special loans to guarantee delivery of homes for sound borrowers.

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The PBOC clarified that private and state-owned firms should be treated equally under its recently unveiled 16-point support plan for the real estate sector, in a notice issued on its website on Wednesday. The central bank said loan restructuring should protect creditors and allow independent commercially driven negotiations between financiers and real-estate developers. The PBOC will support high-quality real estate firms to acquire distressed assets using market orientated methods, and will use policy banks to issue special loans to guarantee delivery of homes for sound borrowers.