Caixin
Jun 06, 2022 07:24 PM
BUSINESS

State-Owned Firm Plows $180 Million Into Local Private Developer

Central China Real Estate’s logo is seen in Zhengzhou, Henan province, in 2017. Photo: VCG
Central China Real Estate’s logo is seen in Zhengzhou, Henan province, in 2017. Photo: VCG

A state-owned enterprise in Central China’s Henan province is injecting cash into a local private real estate developer, as authorities look to shore up confidence in a sector crucial to the country’s economy.

The HK$1.4 billion ($178.5 million) investment comes as policy easing on mortgages and home purchases over the past few months have failed to revive sales, which have been lackluster since the industry fell into a liquidity crisis last year.

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