China to expand financing for housing projects to 4 trln yuan, says housing minister

2024.10.16 22:36

BEIJING (Reuters) – China will expand a “white list” of housing projects eligible for financing and increase bank lending for such developments to 4 trillion yuan ($562 billion), Minister of Housing and Urban-Rural Development Ni Hong said on Thursday.

In January, China announced a plan for a “white list” of housing projects that can receive further financing, with the aim of helping to stabilise the embattled market and home buying sentiment. As of the of end of September, banks had approved 5,392 such projects, with financing reaching nearly 1.4 trillion yuan.

($1 = 7.1161 renminbi)

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