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Caixin

China to issue $29bn of special loans to finish housing projects

Liquidity crisis results in stalled construction, payment boycotts by angry homebuyers

A stalled housing project in Wuhan, Hubei province.

China will issue 200 billion yuan ($29 billion) in special loans to help developers finish stalled housing projects, Caixin has learned from several sources.

The Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the central bank will support developers through special loans from policy banks, state broadcaster China Central Television reported.

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