Bloomberg Reportedly, Chinese President Xi Jinping has ordered Chinese banks Injecting 446 billion U.S. dollars (15 trillion baht) to 50 real estate developers eligible for funding. To solve the funding shortage crisis and maintain stability in the real estate sector
The Chinese government is finalizing a draft list of 50 real estate development companies eligible for financial support, including: Country Garden Holdings Co. Number 1 real estate company in China and Sino-Ocean Group The 25th largest real estate developer, while the country’s top lawmaker said the bank should increase funding for real estate development companies. To further reduce the risk of defaulting on debt payments. And it must be ensured that housing projects will be completed. After the capital injection
last attempt of Chinese President Xi Jinping to step up support for the broader economy this week. This indicates the urgency of stopping the effects of the real estate crisis. That not only hinders the growth of the Chinese economy. But it also jeopardizes the country’s financial stability.
Although stocks and bonds of Chinese real estate companies will improve After the announcement of the said measures But it is not clear what the latest measures are. Is it enough to restore confidence in the real estate sector?
Member of the Standing Committee of the National People’s Congress which is a parliament controlled by the Chinese Communist Party. Said on Wednesday that
Increasing funding will help reduce concerns from households. towards the real estate sector which such opinion This has increased pressure on the People’s Bank of China (PBOC) to take additional measures to support the real estate sector.
