© Reuters. FILE PHOTO: The logo of China Evergrande Group is seen on the property developer’s headquarters in Shenzhen, Guangdong province, China, Sept. 26, 2021. REUTERS/Aly Song
BEIJING (Reuters) – Mergers and acquisitions in the Chinese property market will help firms lower their debt, Zou Lan, head of financial markets at the People’s Bank of China (PBOC), said on Thursday.
“Mergers and acquisitions of projects between real estate companies are the most effective market-oriented means for real estate companies to resolve risks,” Zou told reporters. Chinese real estate firms have been under severe liquidity stress this year after regulators stepped up their deleveraging campaign against the bloated sector, triggering defaults at some heavily indebted companies.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.