Chinese banks urged to support affordable rental housing dev't: report

This comes after Beijing vowed to keep the property market stable.

China’s financial regulator is urging banks and insurers to support the development of affordable rental housing, just days after Beijing vowed to keep the property market stable.

The China Banking and Insurance Regulatory Commission urged commercial banks to undertake affordable rental housing projects, reports Reuters, based on a statement published on its website on 25 February.

Insurers are asked to provide “long-term financing support” to affordable housing projects.

Here’s more from Reuters.