PBOC Chief Vows Funding Help in Meeting With Property Developers

(Bloomberg) — China’s central bank said it would increase funding support for the private sector after meeting with executives from the property industry, identifying several companies by name in a statement that underscores growing urgency among regulators to boost market confidence.

Newly appointed People’s Bank of China (PBOC) Governor Pan Gongsheng met with representatives from eight private firms, including developers Longfor Group Holdings Ltd., CIFI Holdings Group Co. Ltd. and Midea Real Estate Holding Ltd., to hear about their difficulties and corporate financing needs, the PBOC said in a statement on Thursday. Banks like Industrial and Commercial Bank of China Ltd. were present as well.