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China Seeks to Stem Mortgage Boycott With Developer Loans (1)

July 18, 2022, 4:09 AM

China’s bank and property stocks rose after regulators sought to defuse a growing consumer boycott of mortgage payments by urging banks to increase lending to developers so they can complete unfinished housing projects.

The guidance from the China Banking and Insurance Regulatory Commission was issued in response to the boycotts and is aimed at expediting the delivery of homes to buyers, a newspaper published by the watchdog reported Sunday, citing an unidentified senior official at the agency.

China is looking to stem the protests that have flared up at 100 housing projects across 50 cities, threatening to spread the real ...