Ex-PBOC Official Urges Caution on Effects of Property Curbs
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China should be mindful of the pace and intensity of its curbs on the property market, as well as the combined effects of different policies on the financing of developers, a former central bank official said.
“The liquidity risks that real-estate companies currently face is not a problem of policy direction, but is reflective of the intensity and pace of policy implementation and the combined impact of policies,” Sheng Songcheng, a former official of the People’s Bank of China, said at the annual Caixin summit Saturday. “The tone and direction of China’s real-estate market regulation are correct,” he said.