China sets up loan scheme for low-income housing

18 May 2024
2024-05-18 11:27

China's central bank announced on Friday that it would establish a 300-billion-yuan relending facility to support the government-subsidized housing project. Local state-owned enterprises are encouraged to use the funds to buy reasonably priced commercial homes that have completed construction, an official with the People's Bank of China, told a press conference, adding that these homes will then be used to provide affordable housing.

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