China's property market is facing turmoil as consumers show a lack of interest in buying real estate, leading to falling home sales and deepening debt woes for developers. Chinese financial regulators have instructed state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates. Additionally, China's policy banks and biggest lenders have been told to issue new loans to cover offshore debt issued by local governments. The property slump remains a drag on the economy despite efforts by authorities to bolster the sector. Chinese financial institutions have extended over $687 billion in loans to support projects under the Belt and Road Initiative over the past decade. Chinese property stocks have fallen to a 14-year low, causing concerns about the overall economic future of the country.
China’s property slump remained a drag on the economy in September despite several steps taken by authorities in recent months to bolster the sector https://t.co/rwoKVD5iWf
China’s financial regulators told its policy banks and biggest lenders to issue new loans to cover offshore debt issued by local governments https://t.co/LceVRhsNVY
China’s financial regulators told its policy banks and biggest lenders to issue new loans to cover offshore debt issued by local governments https://t.co/w6oM6JtNDh
Chinese property stocks fell to a 14-year low, as stress in the sector continues to rise with slumping home sales and deepening debt woes for developers https://t.co/d6Iupt0vTC
Chinese property stocks fell to a 14-year low, as stress in the sector continues to rise with slumping home sales and deepening debt woes for developers https://t.co/xgyJ4zMI7E
Chinese financial institutions extended more than $687 billion in loans to support projects under the Belt and Road Initiative over the past decade, China’s top financial regulator said Tuesday. https://t.co/FUteQyqCDe
1/6 According to Reuters, Beijing is ordering state-owned banks to roll over existing local government debt into longer-term loans at lower interest rates. This is part of Beijing's efforts to reduce local-government debt risks. https://t.co/yenddujcjF
🇨🇳 EXCLUSIVE-CHINA INSTRUCTS BANKS TO ROLL OVER LOCAL GOVERNMENT DEBT - SOURCES Full Story → https://t.co/oRshSvlWek China has instructed state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge… https://t.co/adBgNxcide https://t.co/5cD9vvMuKF
🔴 PBOC INSTRUCTS STATE BANKS TO ROLL OVER LOCAL GOVERNMENT LOANS WITH A LONGER TERM AND LOWER INTEREST RATES – SOURCES.
After relying on a borrow-to-build model for decades, China must make difficult choices about its housing market and economic future as consumers show a lack of interest in buying real estate. https://t.co/afXcdOJDsO
China's measures to shore up its indebted property sector https://t.co/31bpETaqYO https://t.co/rlU2awXyI5
Amid turmoil in China’s property market, the public seethes https://t.co/wrm7rskjEG