Caixin
Aug 11, 2022 07:43 PM
BUSINESS

In Depth: Bailouts Multiply as Pressure Mounts to Stabilize China’s Housing Market

Photo: VCG
Photo: VCG

Efforts to halt the slump in China’s housing market are gathering pace as local governments, banks, state-owned enterprises (SOEs), asset management companies, and shareholders pump money into unfinished projects and cash-strapped developers.

A meeting of the Politburo on July 28 called for action to “stabilize the real-estate market” and the use of “city-specific policies.” It also told local governments they would be responsible for ensuring the “timely delivery” of homes under construction that have already been paid for.

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