News Snapshot:
(Bloomberg) -- The Shanghai branch of China’s central bank urged commercial banks to accelerate real estate lending, according to people familiar with the matter, adding to signs that regulatory efforts to arrest a home-market slowdown are spreading to some of the country’s biggest cities. In previously unreported guidance earlier this month, regulators called on banks to ensure growth in both residential mortgages and loans to developers over the next few months, the people said, asking not to be identified discussing private information. Mortgages shouldn’t increase at a slower pace than other loans, the people said. The Shanghai branch of the...
