She urged Chinese financial institutions to support real estate developers

An artwork combining Chinese yuan banknotes with the Chinese flag

Javier Gersi | moment | Getty Images

Chinese financial institutions should provide strong support to the country's beleaguered real estate sector and not “blindly withdraw” financing for projects in difficulty, a senior Chinese financial regulatory official said.

His strongly worded comments come on the heels of the Chinese central bank's biggest reduction in banks' mandatory cash reserves since 2021. Beijing also recently issued A new political mandate It aims to ease the cash crunch for Chinese developers, who are struggling under the crackdown on the sector's ballooning debts.

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