PBOC Says It Didn’t Join ‘Emergency’ Meeting on Developer
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China’s central bank denied that it took part in an “emergency meeting” about a collapsed property developer with 3.5 billion yuan ($565 million) in debt.
The People’s Bank of China said yesterday it’s not involved in dealing with risks from the collapse of Zhejiang Xingrun Real Estate Co. News website Sina.com later reported that China Construction Bank Corp. took part in non-emergency coordination meetings yesterday with officials from the local branches of the PBOC and China Banking Regulatory Commission, citing an unidentified person.