Chinese regulators urge banks to speed up loan approvals for private property developers amid liquidity crisis.
Chinese regulators are urging banks to speed up loan approvals for private property developers amid a liquidity crisis in the sector. The whitelist mechanism, launched by Beijing, aims to ease the crisis and boost home purchases, as new home prices continue to fall. Despite banks' hesitation to grant new loans due to asset quality and profitability concerns, developers may receive new credit by the end of this month.
March 25, 2024
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