China Development Bank strengthens support for urban housing projects – 2024-03-31 06:04:36

BEIJINGThe China Development Bank, a major entity dedicated to supporting national policies, has strengthened credit support for housing projects in urban localities nationwide.

As of Thursday, March 7, the bank had issued 61.4 billion yuan (about $8.65 billion) of special loans to 271 projects in 33 cities, including Beijing, Shanghai, Guangzhou and Wuhan, according to the bank’s own data. .

These projects have benefited some 360,000 families and supported the construction of 695,000 housing units for people displaced by urban transformation, according to the bank.

The China Development Bank added that it issued the first batch of these loans on January 30 this year, amounting to 9.08 billion yuan.

The central economic work conference, which was held in December last year and set the country’s economic policy priorities for 2024, underlined efforts to advance the construction of affordable housing and public infrastructure for normal and emergency use, as well as such as the renewal of urban locations.