FILE PHOTO: Workers are seen on scaffolding at a construction site in Nantong, Jiangsu province, China January 1, 2019. REUTERS/Stringer
FILE Photograph: Employees are witnessed on scaffolding at a design website in Nantong, Jiangsu province, China January one, 2019. REUTERS/Stringer

BEIJING (Reuters) – China will institute new rules in authentic estate funding, its central bank explained on Sunday.

The move arrives following China’s Ministry of Housing and City-Rural Advancement and the People’s Financial institution of China (PBOC) held a conference final 7 days in Beijing with home organizations and other federal government bodies to focus on a long-expression system for regulation of the authentic estate marketplace.

PBOC and the housing ministry will kind cash and funding management rules for important authentic estate organizations, the central bank explained in a statement, without elaborating.

(Reporting by Yawen Chen, Yilei Solar and Ryan Woo Enhancing by Muralikumar Anantharaman)

By Lela