China's central bank targets $148b in financing for debt-stricken developers

China's central bank targets $148b in financing for debt-stricken developers

Photo by Leon Liu on Unsplash

China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector and relieve pressure on the economy.