SHANGHAI/BEIJING (Reuters) -- Chinese regulators on Sunday urged banks to extend loans to qualified real estate projects and meet developers' financing needs where reasonable, in their latest effort to ease concerns triggered by a widening mortgage payment boycott on unfinished houses.
The remarks by the China Banking and Insurance Regulatory Commission (CBIRC) came after a growing number of homebuyers across China threatened to stop making their mortgage payments for stalled property projects, aggravating a real estate crisis that has already hit the economy.
