China’s Chengdu city announces measures to help developers ease liquidity crunch
China’s Chengdu city announces measures to help developers ease liquidity crunch

China’s Chengdu city announces measures to help developers ease liquidity crunch

The city of Chengdu, capital of southwest China’s Sichuan province, announced several measures including stepping up the quota of property loans and relaxing regulations on developers’ use of property pre-sale proceeds, in the first such package by a Chinese city to help developers ease a sector-wide cash crunch.

Chengdu's local authority will help with financial institutions to increase the quota of real estate loans, accelerate loan approval and disbursement and ensure . . .

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