China to issue $15 billion plan to support rental housing loans – Xinhua

Chinese state media, Xinhua News Agency, reported on Friday, China is planning to issue further policies to support the housing rental market, including a 100 billion Yuan (USD15 billion) housing rental loan plan.

Additional takeaways

China will increase financing to quality developers via loans and bond issuance.

China's plan to improve developers' balance sheets mainly targets high quality property firms with relatively big size, and systemic importance.

China ｗill encourage financial institutions to negotiate with quality developers on debt extension on a reasonable basis.

China will support developers' offshore debt repayment by providing policy support such as better forex management.