China’s Banks Need to ‘Lean Forward’ in Backing Builders, Regulators Say

What’s new: China’s financial regulators urged major lenders at a meeting Tuesday to “lean forward” in extending credit to leading, high-quality builders in 2023 and help them improve their cash flows and balance sheets.

The People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) asked major banks to maintain credit support for the real economy and increase support for domestic demand and supply systems.