Reported 2 days ago
China is activating a $1.5 trillion housing provident fund to bolster its struggling housing market, providing an alternative to traditional bank mortgages. As banks become more cautious amid financial challenges, the fund offers lower interest loans, having surpassed banks in the volume of mortgages issued. Local governments are leveraging this initiative amid ongoing pressures in the real estate sector, although analysts caution it may not be sufficient to address the fundamental issues of demand driving market weakness.
Source: YAHOO