BEIJING/SHANGHAI: Financial regulators in Guangdong province in southern China, Chengdu and Beijing have unveiled detailed measures to support firms hit by the coronavirus outbreak amid worries about a sharper economic slowdown.
The banking and insurance regulator in Guangdong, China's export hub, has pledged to provide support for firms in retail, wholesale, catering, logistics, transportation and tourism sectors that have been hit by the outbreak.
Banks and other financial institutions in Guangdong need to take measures such as delaying loan repayment deadlines and cutting interest rates to help firms, the regulator said in a statement.
The regulator also pledged to provide more credit lines and simplify the credit approval process for such firms.
In Chengdu, the capital of southwestern province of Sichuan, the local branch of the central bank called on securities firms to ask listed companies to disclose relevant information about the epidemic in line with laws and regulations, to keep communication lines open with investors and prevent speculation or misinterpretation of policy.
It also encouraged investors to rationally and objectively analyse the impact of epidemic and adhere to the concept of long-term value investing.
The regulator in Beijing has taken steps to support services firms hurt by the epidemic, telling banks to lower interest rates appropriately and debt-clearing firms to acquire non-performing assets from struggling firms.
The China Banking and Insurance Regulatory Commission (CBIRC) has urged banks not to cut off lending to firms facing difficulties and encouraged banks to reduce loan rates for firms hit by the outbreak.
China's economic growth may drop to five percent or even lower due to the coronavirus outbreak, possibly pushing policymakers to introduce more stimulus measures, a government economist has said.
China reported that growth slowed to a near 30-year low of six percent in the fourth quarter.
Analysts at Nomura believed the virus outbreak could cut China's first-quarter economic growth by two percentage points.
"We expect more detailed measures in coming days. RRR cuts, rate cuts, various lending facilities, and open market operations all are possible options," they said in the report. "We believe the PBOC (central bank) may also roll out some targeted credit easing measures, to help corporates and households that are likely to suffer more from the virus outbreak."
Chinese regions unveil credit support for virus-hit firms
https://arab.news/2qg5f
Chinese regions unveil credit support for virus-hit firms
- China reported that growth slowed to a near 30-year low of six percent in the fourth quarter
- Analysts at Nomura believed the virus outbreak could cut China's first-quarter economic growth by two percentage points
Saudi home ownership exceeds 66% in 2025: housing minister
RIYADH: Saudi Minister of Municipalities and Housing Majid Al-Hogail affirmed that the Kingdom has built a balanced real estate ecosystem, which raised the homeownership rate from 47 percent in 2016 to over 66 percent by 2025.
This indicator reflects the effectiveness of housing policies and regulatory reforms the sector has witnessed in recent years.
This came during Al-Hogail’s speech at the opening of the fifth edition of the Future of Real Estate Forum. He explained that the Kingdom has chosen the path of “real estate balance” as a strategic approach aimed at enhancing market stability, increasing its efficiency, and entrenching fairness within it.
He pointed out that this path has been translated into precise regulatory tools whose effects have materialized in less than a year since the launch of its programs in 2025.
He clarified that the entry into force of the system allowing non-Saudi ownership, within a disciplined regulatory framework, enhances the attractiveness and preserves the sustainability of the real estate market. He emphasized that balanced regulation represents a fundamental pillar in stimulating investment and raising the sector’s efficiency.
In the context of land regulation and stimulating supply, the minister added that the White Land and Vacant Property Fees Law aims to mobilize unused land. He noted that more than 60,000 invoices have been issued since the beginning of 2026, in addition to the availability of over 100 million sq. meters of ready-to-develop land in Riyadh. This contributes to increasing supply and achieving a balance between supply and demand.
Al-Hogail added that the ministry, in partnership with the private sector, is working to inject more than 300,000 housing units into Riyadh over the next three years. He also noted that more than 300,000 housing units had been delivered by the end of 2025 across 16 cities in various regions of the Kingdom.
Furthermore, the number of beneficiaries of housing support programs has exceeded one million, a step that enhances the sustainability and diversity of housing solutions.
Regarding financing and investment, he revealed that the total real estate financing portfolios in Saudi banks represent about 27 percent of their portfolios.
He indicated that local sukuk worth over SR20 billion ($5.3 billion) and international issuances worth $4.5 billion have been issued. This is in addition to attracting global developers through an investment portfolio exceeding SR40 billion, reflecting the sector’s solidity and investor confidence in it.
The minister pointed to the diversity of the housing solutions ecosystem through multiple tools, including rent-to-own, partial ownership and real estate coding, which expand options for beneficiaries and enhance market flexibility.
Al-Hogail said the Kingdom now has an advanced digital real estate ecosystem considered among the world’s leading systems, with 13 digital platforms serving more than 35 million users.
About 80 percent of real estate transactions are completed digitally, alongside the issuance of more than 1.3 million real estate records, enhancing governance and transparency and improving operational efficiency.
On real estate coding, Al-Hogail explained that its regulatory journey spans seven stages, including the launch of a regulatory sandbox for the private sector involving nine companies. He said the future of coding will unfold across three main phases, aimed at building a more open and innovative real estate market.
Al-Hogail concluded by emphasizing that the Saudi real estate sector is moving confidently toward a new stage of maturity and sustainability, supported by regulatory, financial and digital reforms that strengthen its role as a key driver of the national economy.
