A Vanke sign is at a residential construction site in Dalian, Liaoning province. Chinese banks have offered credit support for struggling developers such as Vanke to revive the stricken property sector. Photo: Reuters
A Vanke sign is at a residential construction site in Dalian, Liaoning province. Chinese banks have offered credit support for struggling developers such as Vanke to revive the stricken property sector. Photo: Reuters

Chinese banks pledge billions in credit support to help struggling developers after Beijing confirms rescue plan

  • The PBOC and the CBIRC officially confirmed a 16-point rescue plan for China’s real estate sector on Wednesday
  • Major Chinese banks have announced financing support for a slew of developers, with more lenders set to follow to align with the official policy

A Vanke sign is at a residential construction site in Dalian, Liaoning province. Chinese banks have offered credit support for struggling developers such as Vanke to revive the stricken property sector. Photo: Reuters
A Vanke sign is at a residential construction site in Dalian, Liaoning province. Chinese banks have offered credit support for struggling developers such as Vanke to revive the stricken property sector. Photo: Reuters
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