China's 'whitelist' projects get $495 billion loans by end-Nov
Tweet
Share
E-mail
FILE PHOTO: Workers install windows for residential buildings under construction in Shanghai, China, October 10, 2022. REUTERS/Aly Song/File Photo
BEIJING (Reuters) - The amount of loans approved for "whitelist" development projects across China has reached 3.6 trillion yuan ($494.80 billion) as of the end of November, Housing and Urban-rural Development Vice Minister Dong Jianguo said on Saturday.
At the same time, 3.24 million housing units have been delivered in China, significantly improving market expectations, according to Dong.
China's local governments began compiling a "whitelist" of housing projects for loans earlier this year, giving troubled developers a lifeline to obtain funding for a sector that has beset the economy with stuttering growth.
($1 = 7.2756 Chinese yuan)
(Reporting by Liz Lee and Beijing newsroom; Editing by Sam Holmes)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Colombia mine collapse kills 13
- Top Canada, US trade negotiators to meet again as deal deadline nears
- Academic who raised concerns over Jason Arday suspended by Ghent University
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
