China to boost credit for property market, renovate 1 mn homes …C0NTINUE READING HERE >>>
China’s battered property sector has been a hige drag on the economy for years.
Photo: Hector RETAMAL / AFP
Source: AFP
China said Thursday it would boost the credit available to the ailing property market and help renovate a million homes as it unveiled another round of measures to shore up the sector and try to reignite the economy.
The teetering real-estate sector has long accounted for around a quarter of gross domestic product and experienced dazzling growth for two decades but a years-long housing slump has battered growth as the country’s leadership eyes a target of around…
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