The media quoted unnamed sources as reporting that the Hong Kong Monetary Authority once again encourages banks to support developers to refinance in order to prevent further setbacks in the commercial real estate market. The Hong Kong Monetary Authority recently held a meeting with the Hong Kong Real Estate Developers Association and banks to once again discuss debt maturity issues with some developers. In addition to individual large developers, it also addresses the refinancing difficulties that several medium-sized developers will soon face. It concerns that even though they have assets, they lack cash flow. More than 10 banks attended, including local, Chinese and foreign banks.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.