More on China looking to ease "three red lines" property - would boost property sector

Headline is here from earlier:

• China could ease "three red lines" property rules - this would be a huge policy shift

As background,

The three red lines were introduced in August 2020 when Chinese property was rising in price very strongly indeed.

They stated property should adhere to the following rules:

1. Liabilities should not exceed 70% of assets (excluding advance proceeds from projects sold

2. Net debt should not be greater than 100% equity.

3. Money reserves must be at least 100% of short-term debt.

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The market response to the news was a higher yuan, AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term and NZD NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term. The pop was relatively minor for AUD and NZD, yuan has carried on a bit more.

Chinese property shares had risen substantially earlier ion the session on earlier news and have not thus seen notable gains on this new item.

• ICYMI - China has further loosened mortgage rates for cities with home price declines