Three of China’s Biggest Banks to Provide Support for Property Developers

 

Backlink: VISIONTIMES

Three of China’s biggest commercial banks have agreed to provide fundraising support to property developers, including industry giant Vanke, in a coordinated effort to support the country’s embattled property sector.

It marks one of the latest moves by state-owned banks to respond to Beijing’s call to ease pressure on debt-laden developers and reverse a housing slump.