CHINA: The People’s Bank of China and China Banking Regulatory
Commission have told banks to stop extending loans to developers who
hoard land, the China Securities Journal reports. It said that banks
were issued with a joint requirement on February 22 and cited a source
who was not identified. The report also said that commercial banks and
financial institutions should start a “loan pressure test” for
developers to reinforce their risk management standards, though no
further details were provided. Financial institutions should also play a
role in stopping the speculative purchases of houses, the report said.