Money
China urges real estate project acquisitions to aid struggling developers
China is urging large private and state-owned property companies to acquire real estate projects from troubled developers
According to state media, the nation is seeking to reduce risks around mounting debt piles and their impacts on the economy.
The People’s Bank of China and the a regulatory commission recently issued a notice to financial institutions, urging them to strengthen financial support for such acquisitions.
Chinese regulators have marginally eased funding curbs on the real estate sector, to prevent debt risks spreading from struggling developers including.
The China Evergrande Group and Kaisa Property Holdings are among some of the nations embattled property developers.
Regulators are urging Chinese banks to provide lending to fund acquisitions of projects owned by cash-strapped developers.
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