Economics
China Adds Property Support With M&A Funding, Bank Rate Cut
- Stress in real estate industry may deepen economic slowdown
- Cash-strapped developers are struggling to sell assets
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China is ramping up support of the embattled real estate sector as growing stress in the industry threatens to deepen an economic slowdown.
Authorities are encouraging banks to fund acquisitions of projects of distressed developers and pushing financially healthy property firms to make such purchases, the central bank-backed Financial News reported Monday.