HONG KONG -- China's top banking regulator has pledged to back a bid to speed up completion of hundreds of unfinished housing projects nationwide, after tens of thousands of homebuyers threatened to stop paying their mortgages in protest.
On Thursday evening, the China Banking and Insurance Regulatory Commission said it would beef up coordination with housing and construction authorities, as well as the central bank, to help local governments in "guaranteeing the delivery of homes," according to a report by state broadcaster CCTV, which cited an unnamed official.
