Six major Chinese state banks sign agreements to boost real-estate market

0 Comment(s)Print E-mail Xinhua, November 25, 2022
Adjust font size:

China's six major state-owned commercial banks have signed agreements with high-quality real estate enterprises, aiming to facilitate the stable and healthy development of the real-estate market.

The six banks announced the provision of financing support amounting to more than 1 trillion yuan (about 140.2 billion U.S. dollars), mainly for real estate development, mortgages to consumers, mergers and acquisitions, supply chain financing and bond investments.

The six commercial banks are -- Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China.

The People's Bank of China and the China Banking and Insurance Regulatory Commission issued a guideline Wednesday, encouraging commercial banks to provide and manage loans for the acquisition of real-estate projects in a prudent and orderly manner.

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter