Bank of China agrees to provide lines of credit totaling more than 600 billion yuan to 10 property developers

0
3

BEIJING: Bank of China Ltd announced on Friday that it has agreed to extend lines of credit totaling more than 600 billion yuan ($83.8 billion) to 10 real estate developers, including Vanke and Country Garden.

The move came as China’s state-owned banks scrambled to heed Beijing’s call to ease a liquidity crisis in the embattled real estate sector.

($1 = 7.1638 Chinese Yuan Renminbi)

See also  Online shoppers spent a record amount on Thanksgiving

LEAVE A REPLY

Please enter your comment!
Please enter your name here