Why China is asking banks to sacrifice profits and tightening property sector controls

//Why China is asking banks to sacrifice profits and tightening property sector controls

Why China is asking banks to sacrifice profits and tightening property sector controls

On August 20, a meeting between Chinese regulators and property developers was held in Beijing. While there is little concrete information in the statement later issued by the Ministry of Housing and Urban-Rural Development and the People’s Bank of China, the meeting still attracted much attention as it was reported that the Chinese authorities has set “three red lines”. Specifically, the measures aim to control the scale of property developers’ debt. The red lines are: a 70 per cent upper…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-09-01T17:30:16+00:00 September 1st, 2020|Headlines|Comments Off on Why China is asking banks to sacrifice profits and tightening property sector controls