Reported 7 months ago
China's central bank is pushing for financial support for affordable housing to expedite the sale of unsold housing stock, aiming to address a property crisis affecting the country's economy. The central bank initiated a 300 billion yuan relending loan facility last month, targeting the purchase of unsold completed homes by local state-owned enterprises at reasonable prices. Efforts include promoting the facility among local governments and banks through a virtual meeting and encouraging a market-oriented approach to hasten the sales of existing commercial housing stock.
Source: YAHOO