The comments from the China Banking and Insurance Regulatory Commission (CBIRC) came after a growing number of home buyers in China threatened to stop making their mortgage payments for stalled real estate projects, deepening a housing crisis that has already has affected the economy.

Investors have continued to dump Chinese bank stocks, as well as developer stocks and bonds, even after the CBIRC promised on Thursday to strengthen its coordination with other regulators to “ensure home delivery.”

In an interview with the official China Banking and Insurance News On Sunday, the CBIRC reiterated that it will support local governments to promote home delivery, expressing confidence that with concerted efforts, “all difficulties and problems will be properly resolved.”

More specifically, the regulator urged banks to “assume social responsibility” and actively participate in studying plans to fill the financing gap, so that construction of stalled real estate projects can be resumed quickly and homes can be delivered to consumers. buyers before.

He also urged banks to strengthen communication with mortgage clients and support acquisitions of real estate projects to help stabilize the real estate market.

In addition, the watchdog said financial risks in the northeastern province of Liaoning have been growing recently but are under control, and the government will take measures to prevent risks to China’s small lenders.