Chinese property companies raised a total of RMB 101.8 billion ($14.9 billion) in December, up 33.4% year on year, driven by more state support for the highly indebted sector, according to market researcher CRIC, reports Reuters.
CRIC surveyed one hundred companies. The figure for the year 2022 was RMB 824 billion, decreasing by 38% year over year, it said.
The central bank said on Thursday that for cities where the selling prices of new homes fall month-on-month and year-on-year for three consecutive months, the floor on mortgage rates can be lowered or abolished for first-time home buyers in phases.
