Reported 7 months ago
Central Bank Governor Yang Jinlong chaired a press conference after the second quarter council meeting, emphasizing the bank's continuous monitoring of the housing market and cautioning young people to pay attention to financial management. He addressed concerns about the impact of the New Youth Housing on property prices, urging long-term financial planning and alerting borrowers to the risks of defaulting on loans. The Central Bank will closely monitor the real estate market for financial stability, focusing on indicators like real estate loan concentration ratios and stress testing, while investigating lending practices related to the New Youth Housing scheme to ensure regulatory compliance. Yang Jinlong also noted the importance of proper financial management for long-term stability amid potential interest rate increases.
Source: YAHOO