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China’s state council held meeting with property developers, banks -source -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Chinese flag can be seen at Beijing on April 29, 2020. REUTERS/Thomas Peter/File Photo

SHANGHAI, (Reuters) – China’s State Council think tank met with banks and property developers in Shenzhen’s southern region. A source who was directly familiar with the matter told Reuters.

The source said that the meeting saw participants from China Vanke (Kaisa Group), China Citic Bank and China Construction Bank (OTC) as well CR Trust.

Investors worry about China’s growing liquidity crisis. Recent weeks have seen a series of credit ratings downgrades, offshore defaults, and sales in certain developers’ bonds and shares.

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