China drafts list of 50 real estate firms eligible for funding - Bloomberg News

Reuters2023-11-20

Nov 20 (Reuters) - Chinese regulators are drafting a list of 50 real estate developers eligible for a range of funding, Bloomberg News reported on Monday, citing people familiar with the matter.

The list includes China Vanke Co , Seazen Group

and Longfor Group Holdings , the report added.

The list, which includes both private and state-owned real estate developers, will guide financial institutions in providing support for the sector via bank loans, debt and equity financing, the report said.

The People's Bank of China and the National Administration of Financial Regulation did not immediately respond to Reuters' requests for comment.

China's property crisis is seen as one of the biggest stumbling blocks to a sustainable economic recovery, with rising risks of default among private developers threatening to imperil the country's financial and economic stability.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Eileen Soreng)

((Gnaneshwar.Rajan@thomsonreuters.com;))

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