PBOC Vows to Satisfy People’s Housing Needs as Downturn Drags on

(Bloomberg) — The People’s Bank of China (PBOC) has promised to cater to the nation’s need for quality housing, in a signal of support for the troubled property sector that has been holding the economy back.

The central bank called for “full recognition of the latest changes in the property market’s supply and demand relationship” in a statement Friday, after a quarterly meeting of its monetary policy committee, which did not elaborate on specific measures.