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China's central bank eyes $148 billion bailout for developers -FT

China's central bank eyes $148 billion bailout for developers -FT

Reuters · 07/27/2022 23:59
China's central bank eyes $148 billion bailout for developers -FT

- China is seeking to mobilise up to 1 trillion yuan ($148.19 billion) of loans for stalled property developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector.

The People's Bank of China will initially issue about 200 billion yuan ($29.64 billion) of low-interest loans, charging about 1.75% a year, to state commercial banks, the paper said, citing people involved in the discussions.

($1=6.7481 Chinese yuan renminbi)


(Reporting by Akriti Sharma in Bengaluru; Editing by Clarence Fernandez)

((Akriti.Sharma@thomsonreuters.com;))