A crane with the China Vanke logo at a residential construction site in China, on September 28, 2021.
Kylie Shen | bloomberg | Getty Images
The reaction of Chinese banks has been muted. Hong Kong shares listed China Construction Bank And the Bank of China has been consistent, ICBC It was up 0.28%.
The People’s Bank of China announced in November that Chinese financial authorities had issued a 16-step guide to support the housing sector, and that “relevant policies” will now be extended until the end of 2023.
Xinhua stated that the move aims to “direct financial institutions to continue postponing loan payments to real estate institutions, while supporting financial support for real estate institutions to ensure the implementation of housing projects.”