Aug 30, 2022 05:53 AM

FINANCE

China to Issue $29 Billion of Special Loans to Finish Housing Projects

By Chen Bo, Wang Juanjuan and Denise Jia

A stalled housing project in Wuhan, Hubei province.

A stalled housing project in Wuhan, Hubei province.

China will issue 200 billion yuan ($29 billion) in special loans to help developers finish stalled housing projects, Caixin learned from several sources.

The Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the central bank will support developers through special loans from policy banks, state broadcaster China Central Television reported.

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