Bank of China agrees to provide credit lines totaling more than 600 billion yuan to 10 property developers
5:47 am Friday, November 25th, 2022
BEIJING (Reuters) – Bank of China Ltd announced Friday that it had agreed to provide credit lines totaling more than 600 billion yuan ($83.8 billion) to 10 property developers, including Vanke and Country Garden.
The move came as China’s state-owned banks took efforts to respond to Beijing’s call to ease a liquidity crisis in the embattled property sector.
($1 = 7.1638 Chinese yuan renminbi)
(Reporting by Ziyi Tang and Ryan Woo; Editing by Toby Chopra)
