China’s finally starting to do something about the three-year property crisis that’s been weighing on its COVID-scarred economy.
Beijing is urging banks to boost financing for property developers, media outlets reported this week.
Authorities may let banks offer unsecured short-term loans to the developers on a “white list” of 50 developers for the first time, Bloomberg reported on Thursday, citing people familiar with the matter. They include embattled real-estate giant Country Garden and state-backed China Vanke.
Read More : Beijing Takes Significant Steps to Address Looming Property Crisis in China