The maturing debt of “most” of these financing platforms had either been extended, restructured or replaced, Pan said, adding that financing costs for local government debt had fallen “significantly”. He also said the number of high-risk small and medium-sized banks had “nearly halved from the peak”. The central bank will aim to guide “reasonable” growth
Beijing: After prolonged dithering, China has finally announced steps to address the near collapse of its mammoth property sector by allocating billions of dollars to buy back unsold homes and repurchase idle lands to resurrect its bankrupt real estate sector, which once constituted the mainstay of its economic growth. The People’s Bank of China has
China on Friday unveiled an unprecedented package of measures to encourage homebuyers to enter markets, after property sales and investment fell in the first four months of this year. The People’s Bank of China (PBoC) said it will establish a nationwide program to unleash 300 billion yuan (US$41.5 billion) in cheap funding to help state-owned-enterprises