📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

China central banker calls for strengthening property sector policies

Published 12/24/2022, 02:12 AM
Updated 12/24/2022, 02:15 AM
© Reuters. FILE PHOTO: A crane is pictured during the construction of a building, in Shanghai, China July 20, 2022. REUTERS/Aly Song/File Photo

SHANGHAI (Reuters) - A top advisor to the People's Bank of China on Saturday called for strengthening of real estate policy in light of sluggish economic growth over the past several years as China has pursued its zero-COVID policy.

Wang Yiming, a member of the Monetary Policy Committee of the People's Bank of China, told attendees at the China Wealth Management 50 Forum in Beijing a decline of real estate sales in November showed that existing policies must be strengthened and that new ones were needed to support the sector.

He did not detail the required policy changes.

© Reuters. FILE PHOTO: A crane is pictured during the construction of a building, in Shanghai, China July 20, 2022. REUTERS/Aly Song/File Photo

China has in recent weeks ramped up support for the industry to relieve a liquidity squeeze that has stifled companies in the sector, including lifting a ban on fundraising via equity offerings for listed property firms.

The property sector has also got a slight boost from China's abandonment of the zero-COVID policy. But sluggish demand is still a major constraint on full recovery.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.