China central bank vows measures to support real estate sector
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FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo
BEIJING (Reuters) - China's central bank said it will support setting up a new model of real estate development to help stabilize the crisis-hit sector, according to a statement on Thursday.
It will also improve real estate financial management, it said during a meeting to discuss this year's macro-prudential policy.
(This story has been corrected to clarify that the central bank will support the new development model, not set up a new one, in paragraph 1)
(Reporting by Beijing Newsroom; Editing by Bernadette Baum)
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