China Banking Regulatory Commission: Evergrande related issues will not cause any negative impact on the normal operation of the banking and insurance industry

The spokesperson of the China Banking and Insurance Regulatory Commission answered the reporter’s question to Evergrande Group’s failure to perform its guarantee obligations this time will not have any negative impact on the normal operation of the banking and insurance industry

　　A reporter from China Banking and Insurance News interviewed the spokesperson of the China Banking and Insurance Regulatory Commission on the issue of Evergrande Group’s failure to fulfill its overseas debt guarantee obligations.

The spokesperson said that we are concerned that Evergrande Group failed to fulfill its guarantee obligation for an overseas bond. This is a case in the market economy.

We believe that domestic and foreign regulatory authorities will handle relevant matters in a fair and impartial manner in accordance with the law.

Financial debt accounts for about one-third of the total debt of Evergrande Group, the structure is relatively scattered, and the amount of financial investment is small.

Therefore, this will not have any negative impact on the normal operation of my country's banking and insurance industry.

There will be no change in the principled position of the financial supervisory authority to protect the legitimate rights and interests of consumers, investors, and operators in accordance with the law.

China's financial marketization, rule of law, and international reform and opening will not change in any way.

　　It is understood that Guangdong Province and other local governments and departments are urging Evergrande Group and its affiliated companies to resolve risks in a safe and orderly manner, and actively promote the resumption of work and production of the project to build transaction buildings. Banks, insurance and other financial institutions are also actively participating in relevant laws and regulations. Work.

The China Banking and Insurance Regulatory Commission will conscientiously implement relevant national policies, and under the premise of implementing the prudential management of real estate finance, guide bancassurance institutions to provide financial services to the real estate and construction industries.

At this stage, it is necessary to focus on satisfying the mortgage needs for first homes and improved housing, reasonably issue real estate development loans and M&A loans, increase support for guaranteed rental housing, and promote the steady and healthy development of the real estate industry and the market.