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China To Expand Acquisition of Unsold Housings

CHINA PRESS
MNI (Singapore)

China has expanded the scope of calling on local authorities to buy up completed-but-unsold housing stock for affordable housings to county-level cities on Thursday, with analysts expecting the acquisition to be rolled out across the country soon, 21st Century Business Herald reported. The central bank could increase the quota, or lower the rate of the CNY300 billion re-lending facility to fund the scheme, while the central and local governments may increase policy support by providing interest subsidies and guarantees, the newspaper said citing Wang Qing, chief macro analyst from Golden Credit Rating.

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