China plans to set up $44b fund to tackle real estate crisis

China plans to set up $44b fund to tackle real estate crisis

Beijing, China. Photo by zhang kaiyv on Unsplash

China will set up a real estate fund to help developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44.4 billion), according to a state bank official with direct knowledge of the matter.

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