PBOC Not Part Of “Emergency Meeting” On Chinese Developer Collapse

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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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu