BEIJING, June 12 (Reuters) – China’s central bank on Wednesday held a meeting to promote its financial support for affordable housing in a bid to accelerate sales of unsold housing stock, as a property crisis threatens growth in the world’s second-largest economy.
The central bank last month set up a 300 billion yuan ($41.4 billion) relending loan facility for affordable housing, and Wednesday’s virtual meeting hosted from the city of Jinan in eastern Shandong province is the latest effort to promote the facility among local governments and banks.
Source: REUTER
