Vice Governor of the Bank of China Zhang Qingsong admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market admits that the Chinese real estate market frankIt cannot be continued to grow, and it is normal to adjust. What is currently needed to prevent adjustments to adjust the property market is too fast and urgent.
Comprehensive Securities Times and Reuters reports that Zhang Qingsong said at the International Financial Leadership Summit in Hong Kong on Tuesday (November 7) that the current residential area of Chinese people has risenClose to the level of developed economies.
He said that since this year, the central government has formulated a policy stable real estate market, and the urbanization of China still has great room for improvement. 10 million rural residents have moved to the city each year.Still, I believe that the demand for improvement in housing in the future is still great.
But Zhang Qingsong admits that the real estate market cannot continue to grow. After reaching a certain stage, adjustment is normal."This is a process of winning or defeated. At present, it is necessary to deal with the risk of preventing adjusting the property market too fast."
Zhang Qingsong also said that the Chinese government will currently do three major tasks steadily.Promote the urgency of public infrastructure in ultra -large cities, and promote the reconstruction of villages in the city and the construction of affordable housing to promote the healthier property market.He said it is still very optimistic about the future of the Chinese property market.
For local government debt issues, Zhang Qingsong said that the overall debt level of the Chinese government is at the bottom level of the midstream.According to relevant statistics, as of the first quarter of this year, China's government debt leverage was 79.4%.
He said that the central government's debt burden is light, and the problem of local debt is mainly structural issues. Large -scale debt is concentrated in the central and eastern provinces.Correct the risks of local government responsibilities. "
Zhang Qingsong said that the local government is responsible for solving the debt problem by themselves. A few areas may face some debt repayment pressure, but most of the debt corresponds to form physical assets.The resolution plan, on the one hand, responds to short -term debt issues, and also builds a long -term system."We believe that with the implementation of the government's policies, local debt risks will gradually converge."
Reuters quoted two people familiar with the matter and said that China has asked state banks to provide long -term loans at a lower interest rate, rightThe existing local government debt is a part of the exhibition period, which is part of the Chinese government's efforts to reduce debt risk when the economy is weak.
