Sep 19, 2022 07:39 PM

BUSINESS

Distressed Chinese Developers Scramble for a Piece of $28.5 Billion Industry Bailout

By Chen Bo and Guo Yingzhe

On July 14, Zhengzhou, Henan Province, construction of a residential building was stopped. Photo: IC Photo

On July 14, Zhengzhou, Henan Province, construction of a residential building was stopped. Photo: IC Photo

China’s distressed property firms are scrambling for a share of a 200 billion yuan ($28.5 billion) government loan program, as industry insiders predict the cash won’t be enough to restart all the projects affected by the sector’s liquidity crunch.

The loan program planned by the central government aims to help developers resume construction of apartments that have already been bought but are unfinished due to an industrywide shortage of funds.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Pests on the Plateau

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin-Sinica Business Brief: China’s First Homegrown Jet Sets Sights on Airbus and Boeing

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Tobacco Monopoly Is Swept Up in Corruption Probes

2: China’s Factory Activity Gets Back to Growth, but Recovery Remains Patchy, Caixin PMI Shows

3: China’s EV Industry Calls on Regulators to Curb the Back-Seat Driving

4: Weekend Long Read: Five Tasks for China’s Next Stage of Opening-Up

5: In Depth: China’s Proposed New Curbs on Private Securities Funds Spark Controversy

SPONSORED

OR