PBOC Chief Hopes for ‘Soft Landing’ for China’s Housing Market

Sales and lending in China’s property sector have seen marginal improvement recently, the country’s central bank chief said at a Hong Kong summit on Wednesday, as he sought to address worries about a prolonged real estate crisis that has plagued the world’s second-largest economy.

“With ongoing urbanization in China, we hope the housing market can achieve a ‘soft landing,’” People’s Bank of China (PBOC) Governor Yi Gang said in an interview conducted by Hong Kong Monetary Authority Chief Executive Eddie Yue, which was pre-recorded and broadcast at the Global Financial Leaders’ Investment Summit.