Ni Hong, China's Minister of Housing and Urban-Rural Development, announced an expansion of the real estate 'whitelist', aiming to accelerate bank lending to unfinished projects to 4 trillion yuan by end of 2024.
The 'whitelist' initiative allows city governments to recommend residential projects for swift bank lending, facilitating the completion of unfinished housing for buyers. All commercial projects are now eligible.
Xiao Yuanqi emphasized that banks should swiftly deploy loans in full to developers, rather than in installments, reflecting a significant policy shift towards accelerating housing project funding.
This move follows broader economic measures, including a reserve requirement ratio cut and lowered down payment for second-home loans, aimed at stabilizing and stimulating the economy.
Collection
[
|
...
]