SHANGHAI -- The western Chinese city of Xi'an is to set up a public-private fund worth up to 5 billion yuan ($686 million) aimed at supporting cash-strapped government-backed financing vehicles, in the latest effort in China to stabilize the country's flagging property sector.
China debt crunch
China local government steps in to help indebted property vehicles
City of Xi'an leads an effort to stabilize nation's troubled real estate sector
The Bell Tower in the western Chinese city of Xi'an. © Reuters
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