China drafts list of 50 real estate firms eligible for funding - Bloomberg News

Seazen

20/11/2023 09:48

Nov 20 (Reuters) - Chinese regulators are drafting a
list of 50 real estate developers eligible for a range of
funding, Bloomberg News reported on Monday, citing people
familiar with the matter. 
    The list includes China Vanke Co  000002.SZ , Seazen Group
 1030.HK  and Longfor Group Holdings  0960.HK , the report
added. 
    The list, which includes both private and state-owned real
estate developers, will guide financial institutions in
providing support for the sector via bank loans, debt and equity
financing, the report said. 
    The People's Bank of China and the National Administration
of Financial Regulation did not immediately respond to Reuters'
requests for comment. 
    China's property crisis is seen as one of the biggest
stumbling blocks to a sustainable economic recovery, with rising
risks of default among private developers threatening to imperil
the country's financial and economic stability.

 (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Eileen
Soreng)
 ((Gnaneshwar.Rajan@thomsonreuters.com;))