HONG KONG -- China will extend 4 trillion yuan ($562 billion) in financing to property developers through banks by the end of the year, in its latest effort to prop up an ailing real estate sector that has dragged down overall growth, authorities said on Thursday.
China debt crunch
China's financing to property sector to top $562 billion, officials say
Move targets incomplete housing projects, boosts confidence
A man cycles past residential buildings under construction in Huizhou, China. Strict lending curbs called the “three red lines” that were imposed since August 2020 triggered a prolonged downturn in the sector. © Reuters
Read Next
Latest on China debt crunch
