China Considering $137 Billion in Funding to Boost Urban Village Renovations and Affordable Housing

Citing Bloomberg News and people familiar with matter, Reuters reported on Tuesday (11-14-23) that China plans to provide at least US$137.22 billion (1 trillion yuan) of low-cost financing to urban village renovation and affordable housing programs.

The People’s Bank of China (PBOC) will inject funds in phases through policy banks, with the money ultimately trickling down to households for home purchases, Bloomberg News and Reuters reported.

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