Chinese companies have attracted about 15 billion investments in real estate
2023.01.08 09:27
Chinese companies have attracted about 15 billion investments in real estate
Budrigannews.com – According to CRIC, a market researcher, Chinese property companies raised a total of 101.8 billion yuan ($14.9 billion) in December, up 33.4% year-over-year due to increased state support for the highly indebted sector.
100 businesses were surveyed by CRIC. It stated that the number for the year 2022 was 824 billion yuan, a decrease of 38% year-over-year.
The floor on mortgage rates for first-time homebuyers can be phased in for cities where the selling prices of new homes fall month-over-month and year-over-year for three consecutive months, the central bank said on Thursday.
Bloomberg News reported on Friday that China is also planning to reduce the “three red lines” policy’s restrictions on borrowing for property developers.
Chinese regulators implemented a number of measures to increase sector liquidity in November and December, including the pledge by China’s largest state-owned banks of at least $162 billion in new credit to alleviate the sector’s cash crunch.
Last year, the property industry, which makes up a quarter of China’s economy, was badly hurt because many developers couldn’t finish building projects, which caused some buyers to avoid getting mortgages. Buyer sentiment was also negatively impacted by COVID-19 control measures like lockdowns and movement control measures.
More PM UK announced further fight against inflation
