China to set up 300-bln-yuan relending facility for government-subsidized housing
17:34 UTC+8, 2024-05-17
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China's central bank announced on Friday that it would establish a 300-billion-yuan (US$42.25 billion) relending facility to support the government-subsidized housing project.
17:34 UTC+8, 2024-05-17
0
China's central bank announced on Friday that it would establish a 300-billion-yuan (US$42.25 billion) relending facility to support the government-subsidized housing project.
Local state-owned enterprises are encouraged to use the funds to buy reasonably-priced commercial homes that have completed construction, Tao Ling, an official with the People's Bank of China, told a press conference, adding that these homes will then be used to provide affordable housing.
Source: Xinhua
Editor: Zhu Qing
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