China’s PBOC Pledges Stable Financing for Property Sector
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China’s central bank pledged to keep overall loan growth stable and facilitate financing for the property sector to aid the economy’s recovery.
The People’s Bank of China will keep financing for the real estate sector stable via channels including bonds and loans, while accelerating efforts to explore a new development model for the industry, according to a statement after a meeting on major tasks for the second half. The central bank will also ensure liquidity is “reasonably ample” by using multiple monetary tools.