Photo taken on Sept 9, 2020 shows the view of the skyscrapers of the Central Business District in Beijing. (PHOTO / XINHUA)

BEIJING — China's six major state-owned commercial banks have signed agreements with high-quality real estate enterprises, aiming to facilitate the stable and healthy development of the real-estate market.

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The six banks announced the provision of financing support amounting to more than 1 trillion yuan (about $140.2 billion), mainly for real estate development, mortgages to consumers, mergers and acquisitions, supply chain financing and bond investments.

Commercial banks are encouraged to provide loans for real-estate projects

The six commercial banks are -- Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China.

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The People's Bank of China and the China Banking and Insurance Regulatory Commission issued a guideline Wednesday, encouraging commercial banks to provide and manage loans for the acquisition of real-estate projects in a prudent and orderly manner.