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Shanghai Banks Urged To Boost Credit, Support Developer Financing

CHINA PRESS
MNI (Singapore)

Banks in Shanghai should ensure stable credit growth by supporting the reasonable financing needs of real estate developers and construction companies, and better meeting credit demand of homebuyers, according to a statement on the People’s Bank of China Shanghai head office. Banks should not blindly cut off loans to companies affected by the pandemic, especially smaller businesses, and should help them ease financial pressure with loan extensions, renewals or adjusting repayment plans, the statement said.

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