HONG KONG — Chinese authorities will provide 4 trillion yuan ($562 billion) of financing to property developers through banks by the end of the year to support an ailing real estate sector that has dragged down overall growth. on Thursday.
Officials from multiple agencies, including the Ministry of Housing and Urban-Rural Development and the People's Bank of China, said in a media briefing that the country will expand the white list of property development projects used by banks to guide lending decisions since January. in Beijing.