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CCB To Set Up CNY30 Billion Housing Fund - Caixin

CHINA PRESS

China Construction Bank will set up a rental housing fund worth CNY30 billion that will transform real estate developers’ unsold housing into long-term, affordable rental housing, Caixin reported. The fund, which has been approved by regulators, will target a period of 10 years and a continuation will be assessed once the term expires, Caixin said. The planned fund is part of the effort to bolster the housing market following the provision of special loans via policy banks to ensure the delivery of unfinished housing projects, the newspaper said.

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China Construction Bank will set up a rental housing fund worth CNY30 billion that will transform real estate developers’ unsold housing into long-term, affordable rental housing, Caixin reported. The fund, which has been approved by regulators, will target a period of 10 years and a continuation will be assessed once the term expires, Caixin said. The planned fund is part of the effort to bolster the housing market following the provision of special loans via policy banks to ensure the delivery of unfinished housing projects, the newspaper said.