China Eases Property Loan Curbs as Housing Market Slumps

(Bloomberg) — China eased a year-long cap on loans for the real estate sector to fund public rental housing in the latest bid by authorities to tackle a slumping property market.

Bank loans to fund low-cost rental projects will no longer be subject to regulatory curbs, the People’s Bank of China said Tuesday in a statement (link in Chinese). The rules required banks to trim their loan exposure to the property sector to a certain level.