China’s PBOC Pledges Stable Financing for Property Sector

China's central bank pledges to keep loan growth stable and facilitate financing for the property sector to aid the economy's recovery

According to a statement after a meeting on major tasks for the second half, the People's Bank of China will keep financing for the real estate sector stable through channels including bonds and loans. Multiple monetary tools will be used by the central bank to make sure liquidity is adequate.

Manufacturing activity unexpectedly contracting in July and the property sector's troubles deepened are signs of the economy's weakness. As of June, outstanding loans to the property sector had risen at the lowest rate on record.

According to the statement, the central bank will defusing risks at small and medium-sized banks.

With the help of JohnLiu.