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<CN Home>CN Reportedly Plans to Support SOEs in Acquiring Unsold Commercial Properties
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China is preparing to mobilize SOEs to acquire unsold residential properties from distressed property developers, Bloomberg quoted sources as saying. The plan involves requesting assistance from large SOEs and non-performing asset managers, including CHINA CINDA (01359.HK), to help resolve the issue of excess property inventory. These companies will be permitted to utilize the RMB300 billion allocated by the central bank last year for this initiative. In May 2024, China also arranged for local SOEs to purchase completed unsold commercial housing at reasonable prices, but the effect was minimal. AAStocks Financial News Website: www.aastocks.com |
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