Real estate financing coordination mechanisms established in 276 Chinese cities
BEIJING, Feb. 29 (Xinhua) -- A total of 276 cities in 31 provincial-level regions across China have established real estate financing coordination mechanisms by Wednesday, official data showed Thursday.
About 6,000 property projects have been included on the "white lists" that are eligible for financing support, according to the Ministry of Housing and Urban-Rural Development.
Commercial banks acted swiftly to review these projects and have approved loans of more than 200 billion yuan (nearly 28.2 billion U.S. dollars), the ministry said.
China in January announced a plan to establish a financing coordination mechanism for the real estate sector with the aim of satisfying the legitimate financing needs of property projects and supporting the stable and sound growth of the market.
Photos
Related Stories
- China establishes real estate financing coordination mechanisms in 214 cities
- Real estate market set to get policy boost
- China optimizes policies for healthy development of real estate sector
- More easing expected to push growth of economy
- Explainer: What do China's eased mortgage policies mean for home buyers, property sector
Copyright © 2024 People's Daily Online. All Rights Reserved.