The People's Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) issue Guidelines on Providing Financial Support for the Stable and Healthy Development of the Real Estate Market (Guidelines). Sixteen financial measures are taken to ensure steady and orderly growth of real estate market.

The Guidelines reiterates that "housing is for living in not for speculation" and calls for implementing a long-term mechanism for real estate sector as well as city-specific policies to meet people's demands for basic housing and improved conditions.

In order to keep the financing of real estate sector stable and orderly, the Guidelines also suggests stabilizing lending to property developers, supporting reasonable financing needs of homebuyers, stabilizing credit extension to construction companies, extending outstanding property development loans and trust loans, keeping bond-financing stable and stabilizing financing through trusts and other asset management products.

(Source: Xinhua News Agency)