Efforts to halt the slump in China's housing market are gathering pace as local governments, banks, state-owned enterprises (SOEs), asset management companies and shareholders pump money into unfinished projects and cash-strapped developers.
A meeting of the Politburo on July 28 called for action to "stabilize the real estate market" and the use of "city-specific policies." It also told local governments they would be responsible for ensuring the "timely delivery" of homes under construction that have already been paid for.
