China Builders Start to See Projects Listed for Funding Support
- Country Garden, Sunac among developers whose works made lists
- Latest initiative to help cash-starved developers finish homes
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Cash-strapped Chinese property developers said a range of their housing projects have been listed as eligible for funding under the latest program to support the ailing sector.
Country Garden Holdings Co., which defaulted on a dollar bond late last year, said it has more than 30 of its projects listed by local authorities as suitable for financing support, adding it hopes to join the lists of some other provincial governments. Sunac China Holdings Ltd., which completed offshore bond restructuring months ago, said more than 90 of its developments have been included in so-called white lists by more than 20 city governments.