What’s new: China’s property market has shown some “positive signs” and the impact on the financial system from volatility in the sector has been limited, People’s Bank of China Governor Pan Gongsheng said Monday.
The industry has a solid foundation for healthy and stable development over the long term, Pan said in a speech at the China Development Forum in Beijing, according to a statement the central bank posted on its website Monday evening. Pan also said that China’s financial system is operating soundly, and that financial institutions are generally healthy with relatively strong resistance to risks.
