Name: $84 Billion: Bank to Bail Out China’s Property Sector
Uploaded: 2022-11-29T08:14:31.000Z
Description: China's real estate market is heading south and Beijing is now desperate to pump the brakes with major money in hand.

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China's real estate market is heading south and Beijing is now desperate to pump the brakes with major money in hand.

Bank of China, the country's fourth-largest bank, has pledged a hefty line of credit to 10 real estate developers. Meaning they can borrow on a revolving basis to smooth out cash flow.

The amount totals more than $600 billion yuan, equivalent to about US$84 billion.

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