China Pledges to Boost Developer Lending to Tackle Home Sales Slump

(Bloomberg) — China has asked local governments to offer more financing support to developers and to draw up a list of projects eligible for funding as the country tries to arrest the prolonged downturn in its housing market.

A joint notice from the Ministry of Housing and Urban-Rural Development and National Administration of Financial Regulation told local governments to co-ordinate and offer more targeted support to developers to help them meet their financing needs.