Chinese financial regulators and major debt management companies plan to provide up to ¥160 bn in finance to big developers during the first quarter of 2022, Invest-Gate reports.

According to the plan, the People’s Bank of China is set to inject ¥80 bn worth of loans at 1.75% interest.

Loans will be offered through China Huarong Asset Management Ltd and similar companies.

Informed sources reveal that debt management companies are requested to provide a similar amount.

Chinese real estate developers received ¥101.8 bn in finance during December 2022, up 33.4% YoY, supported for the most part by the state.