China tells banks to step up credit support for economy | Inquirer Business

China tells banks to step up credit support for economy

/ 03:44 PM November 21, 2022

BEIJING  – China’s banks should step up credit support for the economy, including expanding medium to long-term loans to support investment, the central bank and the banking and insurance regulator said on Monday.

Regarding the property sector, the authorities said they should stabilize lending to developers and construction firms, and also support reasonable demand for personal housing loans.

China’s real estate investment fell at the fastest pace in 32 months in October and overall new bank lending tumbled as strict COVID-19 restrictions and property woes weighed.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: banks, China, economy, financing

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.