Local governments move to help developers amid epidemic, more regions expected to follow suit

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More than 10 Chinese local governments including Wuxi, Xi'an, Nanchang and Shanghai as well as Zhenjiang province have announced measures to ease financial pressure on real estate developers as the sector take a hit from the coronavirus outbreak. Analysts expects more regions to follow suit.

On Wednesday, Wuxi city in the eastern province of Jiangsu announced a package of measures to support companies to cope with the impact of the coronavirus epidemic.

The authority will allow developers and other real estate-related companies can apply to delay tax payment by up to 3 months . . .

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