China has formulated a comprehensive action plan to support the struggling real estate sector as Beijing steps up the effort to boost the country’s economic growth, the official Xinhua News Agency reported on Friday.
The People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) held a meeting on Tuesday, urging banks to step up …
Shares of Chinese property developers stage of strong rally amid improving market sentiment on real estate financing.
China will extend the trading hour in the interbank foreign exchange market to 3 am (1900 GMT) from 11:30 pm (1530 GMT), the People’s Bank of China said in a statement.
The People’s Bank of China (PBOC) will maintain the Chinese yuan’s exchange rate at a reasonable and balanced level and use multiple monetary policy tools to ensure ample liquidity in the financial system.
China is likely to roll out the Financial Stability Law in 2023 and relevant legislative efforts by the National People’s Congress are underway, said Liu Guoqiang, vice-governor of the PBOC, at a press conference on Saturday.
“The real estate sector is one of China’s pillar industries and there can’t be big ups and downs,” said Liu Guoqiang, a vice governor of the PBOC, at a press conference on Saturday.
The PBOC on Wednesday issued draft rules on financial infrastructure supervision and management, in a move it to better serve the real economy.
