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Chinese banks pledge billions in credit support to help struggling developers after Beijing confirms rescue plan

SCMP LogoSCMP2d ago

Chinese banks pledge billions in credit support to help struggling developers after Beijing confirms rescue plan - SCMP

Quick Summary:

After the PBOC and the CBIRC officially confirmed a 16-point rescue plan for the real estate sector on Wednesday, banks have been rushing to offer financing support for several struggling companies.

A Vanke sign is at a residential construction site in Dalian, Liaoning province.

Chinese banks have offered credit support for struggling developers such as Vanke to revive the stricken property sector.


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Article Details

Author / Journalist: Iris Ouyang

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 13:41:19 (2 days ago)

News Timezone: GMT +8:00

Ranking: #70 (out of 2692 stories this day)

News Source URL: scmp.com

Language: English

Article Length: 62 words

Reading Time: 1 minutes read

Sentences: 4 lines

Sentence Length: 16 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 1902720

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About SCMP

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Main Topics: Economy

Official Website: scmp.com

Update Frequency: 10 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 6 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

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The story "Chinese banks pledge billions in credit support to help struggling developers after Beijing confirms rescue plan" was covered 2 days ago by SCMP, a news publisher based in Hong Kong.

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  • News ID: #1902720
  • URL: https://beamstart.com/news/chinese-banks-pledge-billions-in-16692688025537

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