Residential buildings in Zhengzhou, Henan province. China is planning to offer refinancing support to high-quality developers through state-backed bad-debt firms. Photo: Bloomberg
Residential buildings in Zhengzhou, Henan province. China is planning to offer refinancing support to high-quality developers through state-backed bad-debt firms. Photo: Bloomberg

China bad-debt firms plan refinancing support of up to US$24 billion for selected property developers

  • The PBOC will channel 80 billion yuan (US$11.8 billion) of loans through the nation’s biggest bad-debt asset managers, sources said
  • The distressed debt firms in turn have been encouraged to match the amount from their own coffers

Residential buildings in Zhengzhou, Henan province. China is planning to offer refinancing support to high-quality developers through state-backed bad-debt firms. Photo: Bloomberg
Residential buildings in Zhengzhou, Henan province. China is planning to offer refinancing support to high-quality developers through state-backed bad-debt firms. Photo: Bloomberg
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