The Chinese government has told the country's most important financial institutions to balance their loan offerings and to make credit plans for the last two months of this year and next year to bolster the real estate market and halt a deepening skid in the economically important sector.
In a meeting Friday, the People's Bank of China, the National Administration of Financial Regulation and the China Securities Regulatory Commission ordered financial institutions to meet the reasonable funding needs of property developers, regardless of their ownership structure.
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