PBOC denies market talk of adjusting property-loan quotas in MPA

Source: Xinhua| 2020-02-18 15:12:45|Editor: Yurou
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BEIJING, Feb. 18 (Xinhua) -- China's central bank has denied rumors that it will adjust property-loan quotas in macro prudential assessment (MPA) framework, calling the market talk "untrue" and reiterating the stance of "housing is for living in, not for speculation."

The statement from the People's Bank of China (PBOC) was in response to a media report that the central bank will tweak quota management of property-related loans in the MPA framework to spur lending to developers as part of efforts to minimize the impacts of the novel coronavirus outbreak.

The PBOC stressed that it will stick to the principle of adopting city-specific policies and implementing long-term mechanisms to promote the steady and healthy development of the sector.

Official data showed Monday that home prices in 70 major Chinese cities remained generally stable in January, with 47 of the 70 cities reporting month-on-month gains, down from 50 registered in December.

Yet the bite of the epidemic is likely to be reflected in February's housing investment and sales data as many cities have suspended house sales and construction.