As the real estate industry in China faces new risks with many refusing to pay mortgages for unfinished projects regulators have taken action to encourage banks to lend on quality real estate projects.
China Banking and Insurance Regulatory Commission (CBIRC) told industry newspaper China Banking and Insurance News yesterday that banks should meet the financing needs of real estate companies on favorable terms.
According to the news of China Banking and Insurance News, CBIRC expressed confidence that "all difficulties and problems will be resolved" through efforts.
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