November 26, 2019 / 5:27 AM / 10 days ago

China cbank party chief says to further curb property bubbles, stabilize house prices

BEIJING, Nov 26 (Reuters) - China will take further steps to curb property bubbles, stabilizing housing as well as land prices to fend off financial risks, the Communist Party chief of the central bank said.

China will step up disclosure and disposal of non-performing bank loans, Guo Shuqing was quoted as saying in an online post released by People’s Bank of China (PBOC) on Tuesday. Guo, the PBOC party chief, is also the top regulator for the banking and insurance sectors.

Guo said that Beijing will also actively support deep reform of small and medium banks, and encourage them to replenish capitals via various channels. (Reporting by Cheng Leng, Kevin Yao and Beijing Monitoring Desk Editing by Shri Navaratnam)

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