China’s central bank said it didn’t participate in an “emergency meeting” yesterday on the collapse of a developer with 3.5 billion yuan ($565 million) of debt.
The People’s Bank of China, in a statement posted to its official microblog, said it’s not involved in dealing with risks from the collapse of Zhejiang Xingrun Real Estate Co.
Officials from PBOC and China Banking Regulatory Commission branches in the eastern city of Ningbo joined meetings yesterday on how to contain risks from the collapse, said three government officials with knowledge of the matter, who asked not to be identified as they weren’t authorized to speak publicly about the matter.
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