The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.
The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.
PBOC to Provide $42 Billion Cheap Loans for Program to Buy up Unsold Homes - Banks to pass on lending to local state-owned enterprises to buy unsold properties and resell or lease them as affordable housing
Did China not get the memo that is was supposed to collapse?
According to all the soyfacing finance bros on YouTube, affordable housing IS the collapse. After all, how are those poor browns supposed to build wealth through equity now! Housing abundance kills Muh invoostment.
Shows what I know about economics!
It must be so nice to live in a functional country
If the US had the manufacturing capacity that China has, it would be sending $42 billion a month to Ukraine and the Zionist entity. I sleep easier knowing the US is dysfunctional in certain ways, because it was built with a fatal design flaw that causes it to bring only death and destruction.
but at what c-
oh, 42 billion.
For comparison US and EU have sunk easily 4 times that in Ukraine.
China is spending less here than a single aid package to Israel from the USA.
Pls sir, Mr. Xi, may I move to China and live in one of these houses?
Honestly, I wouldn't mind having my surplus value extracted anywhere near as much if I knew that it was going to building communism/socialism instead of some rich asshole's pocket
i mentioned they would do this to a lib here and he said i was naive lol
A lot of people have a hard time imagining that a different system from capitalism is truly possible. Most people in the western mainstream think that China basically works more or less the same as the west, just will less personal freedoms.
Reply to them again with this article lol. Might be funny
Clear proof that the Chinese economy is collapsing, just wait and see
It's going to collapse after a century, just wait and see tank**.
Hope they paid "market value" and not inflated prices
Permanently Deleted
GOD I WISH THAT WERE ME
waow. basedbasedbasedbasedbased
Is there a paywalless version of this article? If it's Chinese version is also suffice since I can read in Chinese. Needless to say, this new is especially encouraging to see when it's coming from a well-respected press in China. Even as an observer that is critical of China government, it is an especially good move from the them, just that I'm still hesitate to trust their local counterpart. As I've learnt more and more about China history after the overthrown of KMT, local bureaucrats always find a way to sneak pass through the legislation and suggestion from the central committee and fuck it up either for show or their own benefits. I wish this time it'll result in a successful financial move cuz I'm really worry about local citizens of their financial stress after the crash of major housing developers.
I found this Chinese version from the People's Bank of China website, 国新办举行国务院政策例行吹风会 介绍切实做好保交房工作配套政策有关情况
Thanks comrade! This is exactly what I wanted.
Also from the article, one third of the new spaces will be used to store pots of honey.
Oh look, a racist lib
Pretty sure about 9/10ths of American apartments are filled with no people because rent is too high
No. go away.
You forgot the crying laughing emoji
Imagine posting cringe like this.
You're very lost
Do you jack yourself off with tweezers when you make jokes this dull and gauche
Like if you’re gonna be an insufferable lib you can at least have the temerity to not be unoriginal and boring
Wait, I don't get this, can you explain the joke?
Edit: damn I was just gonna yeet em
Can you like, shut up?
fed