BEIJING -- China's central bank will help struggling developers sell assets to companies on firmer financial footing, looking to whittle away at the mountain of debt in the real estate sector.
China debt crunch
China central bank to support asset sales by troubled developers
State-owned enterprises enlisted to cut debt loads for companies like Evergrande
The People's Bank of China hopes that transferring responsibility for housing projects to healthier companies will ensure a smooth handover to buyers. (Photo by Yusuke Hinata)
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