China's efforts to revive the country's embattled real estate sector have taken another step forward with the opening of applications from private equity (PE) companies to set up property-focused investment funds.
The pilot program, announced on Nov. 28 by the China Securities Regulatory Commission (CSRC), is one of five new support measures to help property developers access equity financing and restart stalled residential housing projects. It ends a six-year ban on PE investment in residential projects in 16 major cities that was imposed to cool down the overheating property market. Investment outside those cities was still permitted.
