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China state banks pledge US$38bil to builders

The Star LogoThe Star2 mo ago

China state banks pledge US$38bil to builders - The Star

Quick Summary:

China’s mega state-owned banks are offering at least 270 billion yuan (US$38bil or RM173bil) in new credit to property developers as part of the nation’s push to ease turmoil in the real estate market.

A Bloomberg Intelligence stock gauge of builders climbed as much as 5%, with CIFI Group Holdings Co and Longfor Group both surging over 10%.

Property firms’ dollar bonds also gained, with investment-grade Longfor rising as much as six US cents (27 sen).


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-25 @ 00:00:00 (2 months ago)

News Timezone: GMT +8:00

Ranking: #883 (out of 2486 stories this day)

News Source URL: thestar.com.my

Language: English

Article Length: 349 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 1918708

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 11 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 22 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

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The story "China state banks pledge US$38bil to builders" has 349 words across 13 sentences, which will take approximately 2 - 3 minutes for the average person to read.

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The story "China state banks pledge US$38bil to builders" was covered 2 months ago by The Star, a news publisher based in Malaysia.

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The Star is a fully independent (privately-owned) news outlet established in 1971 that covers mostly economy and business news.

The outlet is headquartered in Malaysia and publishes an average of 11 news stories per day.

It's most recent story was published 22 minutes ago.

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  • News ID: #1918708
  • URL: https://beamstart.com/news/china-state-banks-pledge-us38bil-16693321149644

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