China pledges more financial support for ‘whitelist’ real estate projects

China’s housing ministry announced plans to provide more financial support for real estate projects that meet certain criteria, aiming to boost the struggling property sector and stimulate economic growth. The government has approved over 2 trillion yuan in loans for whitelisted developers, with plans to exceed 4 trillion yuan by the end of the year. Recent stimulus announcements have led to a surge in Chinese property stocks, indicating investor optimism. Various measures, including cuts to reserve requirements and down payment ratios, have been introduced to stabilize the real estate market, which had been experiencing a downturn since 2021.