PBoC extends relief measures for struggling developers
Developers are allowed loan repayment extensions by another full year
China’s financial regulators extended relief measures for the faltering property sector on July 10.
Last November, the People’s Bank of China issued a notice outlining 16 measures to support the cash-strapped sector. The directive includes asking financial institutions to give developers a one-year extension for loan repayments due within the next half year.
The central bank and the National Financial Regulatory Administration told lenders they can now extend developers’ loans due to be repaid
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