China’s Central Bank Puts to Bed Rumor About List of Quality Developers

What’s new: Chinese banks can determine which developers qualify for credit support under a new government plan to improve quality property firms’ balance sheets, a central bank official said.

The remarks are seen as a response to rumors that financial regulators have compiled a list of firms that qualify for the plan.

Authorities have drafted the plan with criteria for firms considered quality developers, but they have not made a specific list of such firms, Zou Lan, director of the People’s Bank of China’s (PBOC) monetary policy department, said at a Friday press briefing.