China's top banking and insurance regulator said on Sunday banks and insurers should join the efforts to ensure deliveries of presold homes.

Banks should find out the reasons behind the delays, classify housing projects into different categories, take targeted measures, actively participate in the study of reasonable solutions to funding gaps for housing development projects, and help promote rapid resumption of work on the projects and timely deliveries of presold homes, said an unidentified official of the China Banking and Insurance Regulatory Commission during an interview with China Banking and Insurance News, a Beijing-based daily newspaper.

As of mid-July, some customers who bought homes in about 150 property projects in multiple cities issued statements saying they will refuse to make mortgage payments due to delayed deliveries of their presold homes.

The regulatory official said banks should meet the needs of individual clients' and protect the legal rights and interests of financial consumers according to laws.

The CBIRC also addressed the concerns of those who are worried about financial risks at some village and township banks. The official said preliminary investigations conducted by public security organs found that Henan New Fortune Group manipulated five village banks in Henan and Anhui provinces to illegally absorb and occupy public funds and covered up illegal behaviors by cooking raw business data. Most off-the-books clients were unaware of suspected crimes committed by Henan New Fortune Group, nor did they receive extra high interests or subsidies.

On Friday, advance payments started to be made to clients with a combined amount of savings worth up to 50,000 yuan ($7,410) in one banking institution. If the combined amount is more than 50,000 yuan at a single institution, the advance payment will be made successively and the arrangement will be announced separately, according to the CBIRC.

jiangxueqing@chinadaily.com.cn