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Cash-strapped developer Country Garden said on February 3 that more than 30 of its projects had been listed as suitable for financing support by Chinese local governments, aiming to inject liquidity into the crisis-hit industry.
China’s largest private real estate developer said in a statement to Reuters that its projects were included in the so-called “white list” of Hainan, Hubei, Sichuan, Shandong and Chongqing provinces. The developer defaulted on its overseas debt late last year and hopes to be on the list of places such as Guangdong and Hunan provinces.
Country Garden said that after these projects are included in the “white list”, they can receive financing support, which will help relieve liquidity pressure and ensure the completion of the houses.
(Source: theedgemalaysia Image source: freepik)
