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China central bank says to promote healthy development of property market -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Face-masking people walk by the People’s Bank of China headquarters (PBOC) on April 4, 2020. REUTERS/Tingshu Wang

SHANGHAI (Reuters – China’s central bank has said that on Saturday, it will protect home buyer rights and meet their living standards. The central bank also pledged to encourage healthy development in the country’s property market.

The People’s Bank of China’s (PBOC), in a statement following the fourth-quarter monetary committee meeting, indicated that Chinese regulators marginally eased curbs on the sector of property to avoid a hard landing.

The PBOC echoed China’s Central Economic Work Conference in December and stated that it would prioritise stability economic amid a more severe environment and a persistent global pandemic.

According to the PBOC’s statement, its monetary policy will remain flexible and suitable and it will maintain sufficient liquidity. This will give greater support to the real economic, and favor small-sized businesses.

It reiterated its commitment to strengthening reforms in the forex market, increasing flexibility of the Yuan’s exchange rate and guiding financial institutions and companies to remain “risk neutral”.

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