Feb 08, 2024 05:54 AM

FINANCE

Banks Hand out Lifelines to Whitelisted Property Projects

By Wu Xiaomeng and Han Wei

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What’s new: Chinese banks have extended 17.9 billion yuan ($2.5 billion) in loans to 83 real estate projects handpicked by local authorities as eligible for funding support under the latest push to revive the ailing housing sector.

The projects are in 27 cities and are among 3,218 housing projects recommended by local governments to local banks, state broadcaster CCTV reported Wednesday.

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