The People’s Bank of China (PBOC) has called for increased lending to real estate enterprises and building companies, amidst efforts to bolster the health of the country’s recently beleaguered property sector.
On 5 December PBOC’s operations department convened a meeting on lending and financial services with Chinese banks situated in the Beijing area.
The meeting called for “making effective use of various policies including special loans to ensure the delivery of housing projects and tools to support bond financing by private enterprise; expanding the intensity of lending to real estate enterprises and building enterprises, actively supporting rational demand for personal home loans, and continuing to optimise rental home lending services.”
The PBOC meeting also called for banks in Beijing to “raise their political stance, pragmatically strengthen their sense of urgency and responsibility, properly perform financial services work to stabilise the broader economy and help enterprises to resolve difficulties, and expand the intensity of support for the real economy.”
To this end the meeting highlighted measures including:
- Effectively and sufficiently using policy and development financial tools, carbon reduction support tools and special loans to support the clean usage of carbon, tech innovation, capital equipment upgrades and improvements and transportation and logistics.
- Further expanding the intensity of assistance for troubled enterprises, increasing the confidence of market entities and stabilising expectations.
- Supporting the stable and healthy development of the real estate market.
- Seizing the thorough implementation of laws to prevent internet fraud, and deeply advancing management of funding chains. Continuing to drive the optimisation of account services and the convenience of payments services.