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MNI BRIEF: China Cities Must Ensure Housing Project Delivery

MNI (Singapore)
MNI (Beijing)
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Local governments must look at ongoing housing projects facing difficulty to deliver, either increasing financing support to ensure completion, or processing judicial disposal, said Dong Jianguo, vice minister of Housing and Urban-Rural Development at a press conference on Friday.

City governments should include promising projects in the “white list” scheme of loan support, and promote insolvent projects to enter bankruptcy or reorganisation procedure, said Dong.

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Local governments must look at ongoing housing projects facing difficulty to deliver, either increasing financing support to ensure completion, or processing judicial disposal, said Dong Jianguo, vice minister of Housing and Urban-Rural Development at a press conference on Friday.

City governments should include promising projects in the “white list” scheme of loan support, and promote insolvent projects to enter bankruptcy or reorganisation procedure, said Dong.

Keep reading...Show less