China’s ‘Big Six’ State Banks Offer Developers $130 Billion in Credit Lines

China’s “Big Six” state-owned commercial banks have offered at least 925 billion yuan ($130 billion) in credit lines to property developers, most of whom qualify as high-quality players, in a move to help curb risk contagion amid a liquidity crunch in the battered real estate sector.

The moves, in response to regulatory calls, are expected to uplift the market in the short term and prevent credit risks from spreading to leading property developers, analysts said.