Connect with us

Hi, what are you looking for?

Stock

Chinese property executives ask regulators for ‘appropriate loosening’ of restrictions – report

Stock Markets1 hour ago (Oct 16, 2021 06:20AM ET)

(C) Reuters. FILE PHOTO: A man rides a scooter past apartment highrises that are under construction near the new stadium in Zhengzhou, Henan province, China, January 19, 2019. Picture taken January 19, 2019. REUTERS/Thomas Peter

SHANGHAI (Reuters) – Representatives from 10 Chinese property companies met government regulators to ask for an “appropriate loosening” on policy restrictions, financial news outlet Yicai reported late on Friday.

In the meeting, senior executives urged authorities to loosen regulations with the goals of stabilizing market expectations, providing support for genuine home buyers rather than speculators and making adjustments in land prices, Yicai reported, citing unnamed people in attendance.

The meeting was attended by senior executives from developers including China Vanke Co Ltd and Sunac Holdings, along with the Director of the Real Estate Department of the Ministry of Housing and Urban-Rural Development and the Director of the China Real Estate Association (CREA), Yicai reported.

A number of Chinese property firms are facing a liquidity crunch amid weak demand and tightening regulations. Property firms have been affected by loan caps imposed by the government in order to contain rampant borrowing.

The potential collapse of highly indebted real estate firms such as China Evergrande Group has rattled markets and raised concerns about systemic risks to the broader economy.

Chinese property executives ask regulators for ‘appropriate loosening’ of restrictions – report

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

World News

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered...

World News

George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases,...

Tech

If you parked your car in one of the thousands of parking spots across Calgary, there’s a good chance you paid the Calgary Parking...

Investing

ForexMay 27, 2021 02:04AM ET (C) Reuters. By Peter Nurse Investing.com — The dollar edged higher in early European trade Thursday, finding support from...

Disclaimer: Yourmorningvoice.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. Copyright © 2021 Your Morning Voice. All Rights Reserved