BEIJING : A leading property association in China will hold a meeting with its members on Friday to assess the difficulties developers are facing across the country and any related risks, Yicai, a Chinese financial news outlet, reported on Tuesday. The meeting is for the China Real Estate Association (CRE
BEIJING : A leading property association in China will hold a meeting with its members on Friday to assess the difficulties developers are facing across the country and any related risks, Yicai, a Chinese financial news outlet, reported on Tuesday.
The investigation will be helpful to the implementation of policies, the people were cited as saying. Home sales have slowed this year due to a clampdown on speculative buyers, hitting builders' cashflow. Property firms have also been affected by loan caps as the government steps up its deleveraging campaign to contain rampant borrowing.
The northeastern city of Harbin on Sunday announced support for developers, allowing them to get back their presale funds held in government escrow accounts as quickly as possible to ease pressure on their cashflow.
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