Nanjing to relax rules on home pre-sales proceeds to ease property developers' liquidity stress

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

The city of Nanjing, capital of East China's Jiangsu province, plans to relax rules on property developers' pre-sales proceeds in a move to ease the struggling sector's liquidity stains.

The local real estate authority in Nanjing has recently released a notice, in which qualified property developers will be allowed to withdraw new home pre-sales proceeds from escrow accounts if they can provide a bank guarantee letter, first reported by China's . . .

Sign In or Subscribe To Get Full Access.

Everything you need about China markets is on THE WIRE - one timeline with up-to-the-minute updates throughout every trading day.

Follow China Market In The Most Efficient Way!

TRY US FOR FREE