From Investing.com:

China’s central bank provided 350 billion yuan in loans to policy banks in December through the Pledged Supplementary Lending facility, boosting support for the housing sector. PBOC did not specify how the loans would be used. This marked the first monthly increase in PSL loans since November 2022. Beijing plans to provide at least 1 trillion yuan of low-cost financing to urban village redevelopment and affordable housing programs. Outstanding PSL loans were at 3.252 trillion yuan at the end of December, up from 2.902 trillion yuan at the end of November. The PSL program, initiated in 2014, was originally designed to support property downturns by funding urban redevelopment and boosting property prices. China heavily relied on PSL loans to support shanty-town renovation during 2015-2018.



Read more: China lifts policy bank loans, raising housing support expectations By Reuters