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Thursday, November 09, 2023
China's Regulators Meet Major Property Firms
TMTPost

BEIJING, November 9 (TMTPost)— Chinese government is expected to take further actions to bolster the property market as the news and rumors about real estate giant Country Garden Holdings Co. swirled.

China's top regulators, including the People's Bank of China (PBoC), the central bank, the National Financial Regulatory Administration (NFRA), the Ministry of Housing and Urban-Rural Development and the China Securities Regulatory Commission (CSRC), were reported to hold a meeting with multiple major property firms such as Vanke, Poly Real Estate Group, China Resources Land, Longfor Properties and Gemdale to understand these companies' liquidity and their financing needs.

These developers are among a few ones that have avoided defaulting, Caixin learned. The Chinese media group also learned the regulators also summoned three developers including Vanke, Longfor and Seazen Group last week. It cited analysts that recent meetings underlined Beijing's concerns on individual developers' difficulties and signaled authorities could introduced supportive measures to help the industry.

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