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


Reuters | Beijing | Updated: 28-07-2022 09:48 IST | Created: 28-07-2022 09:36 IST
China's central bank eyes $148 billion bailout for developers -FT
China Central Bank Image Credit: Wikimedia
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China is seeking to mobilize 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)

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