Home » Banks convening intensive symposiums on real estate companies will better support the reasonable financing needs of real estate companies_Hangzhou Net

Banks convening intensive symposiums on real estate companies will better support the reasonable financing needs of real estate companies_Hangzhou Net

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Chinese Banks Pledge Support for Real Estate Companies

In recent news, various state-owned and joint-stock banks in China have been holding symposiums to express their commitment to better support the financing needs of real estate companies. The banks include Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, China Guangfa Bank, and China Zheshang Bank, and the real estate companies involved are Vanke Group, Longfor Group, Binjiang Group, Xincheng Holdings, and more.

The Industrial and Commercial Bank of China has stated that it will focus on supporting real estate development loans, personal housing mortgage loans, and syndicated loans in areas such as “urban villages, affordable housing, and emergency housing”. Additionally, the bank will establish and improve mechanisms to optimize credit policies and accelerate loan approval for non-state-owned real estate enterprises.

Agricultural Bank of China is also looking to strengthen cooperation with real estate companies, focusing on areas such as commercial housing, rental housing, and urban renewal. China Construction Bank has similarly expressed its commitment to better support the reasonable financing needs of real estate companies, with a focus on increasing domestic and overseas linkage services and credit support.

Bank of Communications and joint stock banks such as Zheshang Bank and China Guangfa Bank have also held symposiums with real estate companies to discuss cooperation and support for the stable and healthy development of the real estate market.

These developments come after a joint symposium held by the People’s Bank of China, the State Administration of Financial Supervision, and the China Securities Regulatory Commission on November 17. The meeting emphasized the importance of financial institutions treating all real estate enterprises equally and meeting their reasonable financing needs, as well as supporting private real estate companies in bond issuance and financing.

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Yan Yuejin, research director of E-House Research Institute, commented on the symposiums, stating that they reflect the banks’ commitment to implementing the spirit of the central financial work conference and relevant meetings of financial regulatory authorities. He also noted that the symposiums indicate progress in real estate financial supply-side reform and predict a clear guidance plan to be released soon.

The symposiums and commitments from the banks signal a concerted effort to support the stability and healthy development of the real estate market in China. As discussions and cooperation between banks and real estate companies continue, the industry is expected to see new opportunities for growth and development.

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