Two of China’s richest female real estate tycoons—billionaires Wu Yajun and Yang Huiyan—saw their net worth gain a combined $3.6 billion in just a few hours.
—saw their net worth gain a combined $3.6 billion in just a few hours, after the country’s regulators took a surprising turn and unveiled a comprehensive package of measures aimed at supporting the ailing property industry.
To ensure the “stable and healthy development” of the real estate market, authorities including the country’s central bank, the People’s Bank of China, as well as the China Banking and Insurance Regulatory Commission , issued on Friday a 16-point document that included steps to boost lending and liquidity,Screenshots of the document are also available online, showing that regulators encouraged banks to meet the “reasonable” financing needs of developers with sound corporate governance, allow...
“We view this as the most crucial pivot since Beijing significantly tightened financing of the property sector,” Nomura economists led by Lu Ting wrote in a research note on Monday. “Thus, those cash-strapped developers , construction companies, mortgage borrowers and other related stakeholders can now breathe a sigh of relief.”
Shares of several major real estate companies soared in response, with billionaire Yang Huiyan’s Hong Kong-listed Country Garden jumping 40.6% as of Monday noon, and fellow billionaire Wu Yajun’s Longfor Group, also listed in Hong Kong, surging 22.8%. Yang’s subsequent $2.4 billion increase in wealth and Wu’s $1.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man arrested after biting Tukwila officerA man was arrested after attacking two citizens and two police officers in Tukwila.
Read more »
Prosecution pleads to 3 years in jail for Yang Hyun Suk | allkpopThe prosecution pleaded to 3 years in jail for Yang Hyun Suk for trying to cover up B.I's drug allegations and th…
Read more »
Two Indiana high schools take 1st, 2nd at Bands of America Grand National ChampionshipsBrownsburg and Fishers High Schools also made the top 10, in 8th and 10th places, respectively. Castle High invited to Rose Parade.
Read more »
Six People Killed When Two WWII-Era Planes Collided At An Air Show In DallasTwo World War II-era planes collided in the air and dropped to the ground in a fiery crash in front of thousands of spectators.
Read more »
Two-wheelers come first in Indonesia’s electric vehicle strategyThe Indonesia Battery Corporation plans to produce 50,000 battery packs for two-wheelers next year.
Read more »