Source: WTVB —
SHANGHAI (Reuters) – China’s top real estate regulator vowed to resolutely tackle risks stemming from overdue delivery of residential properties by some top developers in a bid to maintain social stability, the official Xinhua News Agency reported on Saturday.
Wang Menghui, head of the Ministry of Housing and Urban-Rural Development, also told Xinhua that China will keep its real estate policies consistent and stable, while strengthening coordination in areas including finance, and land and market supervision.
Chinese developers suffered liquidity stress this year as Beijing stepped up its deleverage campaign against the bloated sector, triggering defaults at heavily-indebted players such as China Evergrande Group.
Although Chinese regulators have marginally eased funding restrictions to avoid a hand-landing of the sector, Wang ruled out policy reversal.
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