Caixin
Mar 03, 2022 05:49 AM
FINANCE

Top Banking Regulator Warns Against a ‘Too Dramatic’ Real Estate Correction

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission

What’s new: China’s chief banking regulator warned that a “too dramatic” correction in the property sector could damage the economy and said a smooth transition would be more desirable.

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, told reporters at a briefing Wednesday that recent property price adjustments and changes in the structure of demand are for the financial sector by reversing a bubble momentum in real estate financing.

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