China Increases Loan Quota for Unfinished Residential Projects to USD 562 Billion

Construction of Buildings in Progress

China: China has announced an increase in the loan quota for unfinished residential projects to 4 trillion yuan (approximately 562 billion USD), a move that did not meet market expectations. As a result, property shares experienced a decline as investors anticipated stronger measures.

The government established a new year-end target for loans designated for "white-list" property projects following the disbursement of 2.23 trillion yuan (USD 305 billion) as of 16 October. This initiative is part of a series of measures aimed at ensuring the completion of homes.

Source: Bloomberg