Chinese banks issue 17.86b yuan in loans to first batch of 'white-listed' real estate developers: report

2024-02-06 09:08:03Global Times Editor : Li Yan ECNS App Download

In order to meet the reasonable financing needs of Chinese real estate developers, a total of 17.86 billion yuan ($2.51 billion) in loans has been issued to 83 real estate-related projects included on the "white list," Xinhua News Agency reported on Monday.

As China's Ministry of Housing and Urban-Rural Development and the National Financial Regulatory Administration pledged to build a city-centered financing coordination mechanism to support the real estate sector, a total of 170 cities in 26 provinces have established the mechanism as of the end of January.

According to the plan, 3,218 real estate-related projects have been included on the first batch of the "white list," and commercial banks have issued 17.86 billion yuan in loans to 83 projects on the list in 27 cities after examination.

Notably, 84 percent of the projects included in the first "white list" belong to private and mixed ownership developers, indicating that the policy support treats real estate developers of different ownership equally, as per the report.

Real estate developer Sunac China Holdings said on Monday that over 90 projects of the company in more than 20 cities, including Beijing, Tianjin, Chengdu in Southwest China's Sichuan Province, Chongqing, and others, have been included in the first "white list," according to the Chinese media outlet

Other developers such as Country Garden, Greenland, and the SCE Group also mentioned that part of their real estate projects has been put on the list.

Related news


Most popular in 24h

MoreTop news


Back to top About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2024 All rights reserved.
Reproduction in whole or in part without permission is prohibited.
[网上传播视听节目许可证(0106168)] [京ICP证040655号]
[京公网安备 11010202009201号] [京ICP备05004340号-1]