Six major state-owned commercial banks in China have signed agreements with quality real estate enterprises, aiming to facilitate the stable and healthy development of the real estate market.
These six banks have announced that they will provide financial support of more than 1 trillion yuan (about 140.2 billion US dollars), mainly for real estate development, consumer home loans, mergers and acquisitions, supply chain financing and bond investments.
These six commercial banks are the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and China Postal Savings Bank.
The People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a guideline on Wednesday, encouraging commercial banks to make and manage loans for the acquisition of real estate projects in a prudent and orderly manner.
