China pledges to keep property curbs, Evergrande risk seen limited

Dhwani Mehta FXStreet

Liu Zhongrui, an official at the China Banking and Insurance Regulatory Commission (CBIRC), downplayed concerns over the unfolding crisis around China Evergrande Group while adding that they will maintain the curbs on the country’s property market.

Key quotes (via Bloomberg)

“The property controls have achieved good results and the government will refrain from using the real estate sector as a short-term economic stimulus measure.”

“Evergrande is an “individual” case and won’t hurt the overall credibility of Chinese firms, which is backed by the country’s economic stability.”

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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