From Investing.com:

Distressed property developers in China are getting relief with local projects being added to whitelists by the government to boost liquidity. Country Garden, Sunac, and Greenland are among those benefitting, with over 90 projects added to the lists, allowing for financing to ease cashflow pressure and ensure project completion.

CIFI, a top 20 developer by sales value, also saw 18 of its projects added to whitelists, with hopes for more. Meanwhile, SCE, having defaulted on $1.8 billion in bonds, has over 10 projects with financing needs on the lists.

Despite this, banks’ reluctance to lend to the sector remains an obstacle, and the focus is on ensuring financing is used solely for project completion, not debt repayment. Shares of the developers reflect the uncertainty, with Country Garden seeing flat closures, while Greenland’s Shanghai-listed shares fell 5.9%.



Read more: Distressed Chinese developers get project loan backing as Beijing ramps up support By Reuters