Lenders pledge support for developers

Fnancing avenue: People walk past the PBoC building in Beijing. A recent symposium held by the central bank studied key issues of real estate finance and credit delivery. —Bloomberg

SHANGHAI: A number of major Chinese commercial banks have voiced support in recent meetings for the reasonable financing needs of real estate enterprises, which is a positive signal for the further stabilisation of the housing market, officials and experts say.

“The active gestures made by Chinese banks show that property companies will receive all-round financial services from banks to ease their liquidity pressure and support to go through the market cycle,” said Li Yujia, chief researcher at the Guangdong Planning Institute’s residential policy research centre.