Reported 4 months ago
The People’s Bank of China is using various tools to support China’s housing market, including providing 300 billion yuan of cheap credit for banks to fund local-government purchases of unsold homes. Other programs include lending to projects for affordable housing and renovating urban villages. Economists believe more central-bank credit will be needed to address the housing market's challenges, while the International Monetary Fund suggests fiscal tools may also be necessary to support developers and buyers.
Source: YAHOO