China aid program could help more than 30 Country Garden projects

Distressed developer to receive bank loans under 'white-list' scheme

20240205 A residential area of Country Garden in Nanjing

Country Garden Holdings' total debt stood at 257.9 billion yuan ($35.8 billion) as of the end of June. © Getty Images

KENJI KAWASE, Nikkei Asia chief business news correspondent

February 5, 2024 17:47 JST

HONG KONG -- Embattled Chinese property developer Country Garden Holdings said that more than 30 of its unfinished projects are in line to receive support under a government scheme to revive the country's real estate market.

The Guangdong-based developer told Nikkei Asia in a statement that it has "acted swiftly" and "applied proactively" for so-called "white list" projects in cities across the country in the past few weeks.