China drafts guideline for financial support in house rental

China has drafted a guideline to regulate financial support for the house rental market and started soliciting public opinion.

The guideline was jointly drafted by the People's Bank of China (PBOC), the country's central bank, and the China Banking and Insurance Regulatory Commission.

Based on the experience of financial innovation and the suggestions from institutions and experts, the move aims to improve the financial services for the house rental business, the PBOC said.

The draft focuses on supporting specialized and large-scale enterprises in the house rental sector and providing diversified financial products and services, the central bank added.