With the intensification of China's real estate financial risks, the South Korean government has set up a working group to pay close attention to the impact of the Chinese risk on the Korean market.
According to the Yonhap News Agency, the Korean government on Sunday (August 20) news, according to the instructions of Qiu Qinghao, deputy prime minister and Minister of Planning Finance, the Ministry of Finance set up the "China Economic Situation Group in the Economic Policy Bureau"" ".
The working group will maintain close cooperation with many institutions and departments such as the Bank of South Korea (central bank), the Ministry of Commerce Resources, and Financial Commission, and pay close attention to the changes in China's economic situation.
In addition, the government's high -level dialogue mechanism will also pay attention to China's real estate financial risks.The first meeting of the Economic Emergency Management Working Group held by Fang Jishan, the first official (deputy minister) of the Ministry of Finance, will discuss countermeasures. The macroeconomic and financial issue work inspection meeting will also evaluate China's economic situation at any time.
The Ministry of Finance of South Korea believes that the financial risks of Country Garden and Evergrande's financial risks from large real estate developers in China have a direct impact or limited impact on the real economy and financial markets, but how will the future situation evolve and how the Chinese government responds toIt may become a variable, so it is still difficult to predict the impact of risks on the Korean side.Due to the closely related economic economy, the government is paying close attention to the impact of Chinese risks on the Korean financial market and the real economy.
Financial Supervision Institute also established China Real Estate Financial Risk Monitoring Working Group on the 17th.The Korean financial department has initially judged that the risk of Country Garden debt issues of domestic financial companies is very small, and the direct impact of Chinese risks on domestic risks has limited impact on domestic.However, some analysts believe that if China's real estate risk spreads to global financial institutions and then drags the global economic growth, the Korean economy will be indirectly affected by it.
