China’s $562 Billion Loan Push for Unfinished Homes Disappoints
- ‘White-list’ program helps deliver unfinished homes to buyers
- China will renovate 1 million units in villages within cities
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China’s pledge to nearly double the loan quota for unfinished residential projects to 4 trillion yuan ($562 billion) fell short of market expectations, causing property shares to retreat as investors looked for stronger policies.
The government set the new year-end target for loans to so-called “white-list” property projects after disbursing 2.23 trillion yuan as of Oct. 16. The measure, aimed at ensuring home completion, was part of a basket of initiatives announced during a Thursday briefing.