HONG KONG — China will extend 4 trillion yuan ($562 billion) in financing to property developers through banks by the end of the year, in its latest effort to prop up an ailing real estate sector that has dragged down overall growth, authorities said on Thursday.
The country will expand a so-called white list of property development projects that banks have been using to guide lending decisions since Janu, officials from multiple agencies including the Ministry of Housing and Urban-Rural Development and the People’s Bank of China told a media briefing in Beijing.
