(Yicai) Nov. 8 — The Peoples Bank of China will provide emergency liquidity support to areas with heavy debt pressure when necessary to help local governments solve debt risks, according to the governor of Chinas central bank.
The PBOC will cooperate with related government agencies and local governments to offer financial support for the stable and healthy development of the real estate sector, reducing risks, and preventing spillover risks, Pan Gongsheng said at the Annual Conference of Financial Street Forum 2023 in Beijing today.
Loans to the real estate sector account for 23 percent of banks total loan balance, and around 80 percent of them are personal housing loans, Pan noted, adding that the spillover effect of Chinas policy adj…
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