China Announces Major Financing Boost for Property Sector

The government plans to double credit support for housing projects to 4 trillion yuan by year-end to stabilize the struggling market.

China's housing minister Ni Hong confirmed an increase in financing for 'white list' housing projects to 4 trillion yuan, aiming to support the property sector.
The expansion of the 'white list' mechanism is part of efforts to address the downturn in the real estate market, which has been a significant drag on China's economy.
The government will also undertake urban village renovation projects, targeting the redevelopment of 1 million units with monetary compensation for residents.
Recent measures include allowing local governments to use funds from special bonds and lowering down payment requirements to stimulate the housing market.
As of mid-October, loans for eligible real estate projects under the 'white list' reached 2.23 trillion yuan, with expectations to double by the end of the year.