(Hong Kong Comprehensive News) British media reported that the Chinese government hopes that banks will provide a loan of up to 1 trillion yuan (RMB, Same, Same, S $ 205 billion) to help developers complete the suspension of real estate.
The Financial Times on Thursday (July 28) quoted people involved in the discussion that the first phase of the People's Bank of China will issue a low -interest loan of about 200 billion yuan to a state -owned commercial bank with an annual interest rate of about 1.75%.
It is reported that the plan has been approved by the Chinese State Council recently.The Chinese government hopes to leverage the bank to increase the loan by more than four times to reach about 1 trillion yuan.However, bank executives and analysts have warned that because banks are difficult to return from bad real estate, the Central Bank of China may be difficult to achieve the target amount.
Officials may assist developers to complete the news of the stoppage real estate. Thursday pushed the stock price of Chinese real estate companies on Thursday, including Xuhui Holdings once increased by 10%.
Reuters on Monday (25th) also quoted state -owned bank officials who were informed that China would set up a real estate fund to raise up to 300 billion yuan of funds to acquire bad tail buildings to assist developers to solve debt problems.
This fund supported by the Bank of China is 80 billion yuan.In addition, according to the financial information platform Redd, the fund was invested by the State -owned China Construction Bank of 50 billion yuan in the early days, and the Bank of China allocated 30 billion yuan for re -loan.If this model is feasible, other banks will follow up.
People familiar with the matter also said that the fund will be used to purchase unintentional real estate projects and complete construction, and then rent it to an individual as part of the government's promoting affordable rental housing.
