The Chinese mainland's central bank announced on Friday the establishment of a 300-billion-yuan (approximately $42.25 billion) relending facility aimed at supporting government-subsidized housing projects.
Tao Ling, an official with the People's Bank of China, stated during a press conference that local state-owned enterprises are encouraged to utilize these funds to purchase reasonably priced commercial homes that have been completed. These properties will subsequently be used to provide affordable housing options to residents.
This initiative underscores the Chinese mainland's commitment to enhancing affordable housing availability, leveraging financial support to ensure that newly constructed homes remain accessible to a broader population.
Reference(s):
China to set up $42b relending facility for govt-subsidized housing
cgtn.com
