Posted 11/22/2023, 10:08:00 AM
China Drafts Bailout List to Support Struggling Real Estate Developers
- China puts distressed developers like Country Garden, Sino-Ocean Group, and CIFI Holdings on draft list to receive financing support
- Aims to contain liquidity risks and prevent spillover to wider economy
- List to be finalized and distributed to banks and financial institutions soon
- Unclear what specific support measures will be offered
- Shows China taking more active stance to stabilize property sector, but overdue housing projects remain a hurdle