BEIJING - Chinese banks should increase consumer loans appropriately and meet reasonable financing demands of high-quality property companies, the nation's banking and insurance regulator said on Friday.

Authorities will guide banks to expand medium-and long-term loan issuance to the manufacturing sector and guide banks and insurance firms to step up support for private firms, the China Banking and Insurance Regulatory Commission said in a statement.

(Reporting by Beijing newsroom, Editing by Louise Heavens)