Liu Zhongrui, an official at the China Banking and Insurance Regulatory Commission (CBIRC), downplayed concerns over the unfolding crisis around China Evergrande Group while adding that they will maintain the curbs on the country’s property market.

Key quotes (via Bloomberg)

“The property controls have achieved good results and the government will refrain from using the real estate sector as a short-term economic stimulus measure.”

“Evergrande is an “individual” case and won’t hurt the overall credibility of Chinese firms, which is backed by the country’s economic stability.”

Related reads

• China Evergrande makes $83.5 million bond interest payment

• AUD/USD pokes 0.75 as Melbourne unlock, Evergrande news combat inflation fears