BEIJING (Reuters) – China will increase a “white record” of housing initiatives eligible for financing and enhance financial institution lending for such developments to 4 trillion yuan ($562 billion), Minister of Housing and City-Rural Growth Ni Hong mentioned on Thursday.
In January, China introduced a plan for a “white record” of housing initiatives that may obtain additional financing, with the intention of serving to to stabilise the embattled market and residential shopping for sentiment. As of the of finish of September, banks had permitted 5,392 such initiatives, with financing reaching practically 1.4 trillion yuan.
($1 = 7.1161 renminbi)
