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Urban Village Financing Ramping Up - Herald

CHINA PRESS

Authorities have issued CNY864.6 billion in credit to support urban village transformation in 19 cities so far, according to a report by the 21st Century Business Herald. Cities received the funds via the PBOC’s pledged supplementary lending (PSL) facility issued through policy banks, the Herald understands. Regional authorities are using the loans for pre-project work, land acquisition, compensation and resettlement, and construction of resettlement housing. Banks have lowered loan cost and risk by lending to entities above municipal level, who are in turn re-lending to entities at county and city level.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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