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CHINA is considering a proposal to have local governments across the country buy millions of unsold homes, sources familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market.
The State Council is seeking feedback from several provinces and government entities on the preliminary plan, said the people, asking not to be identified discussing a private matter.
(Bloomberg) -- China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market.Most Read from BloombergChina Considers Government Buying of Unsold Homes to Save Property MarketHow One of the World's Oldest Hedge Funds Went BankruptFlood of China Used Cooking Oil Spurs Call to Hike US LeviesOpenAI Chief Scientist Ilya S
15 cities have removed the lower limit for mortgage rates on first-home purchases. Read more at straitstimes.com.
Chinese banks are reportedly scrambling to bail out one of the country's largest property developers Vanke after Moody's lowered its credit rating