Business丨New measures set to revive realty sector

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China has rolled out new policy measures to rejuvenate the shaky property sector, with expanded funding for troubled property developers and renovation of an additional 1 million homes high on the agenda. Analysts said this will shore up sentiment among homebuyers and investors, and facilitate an upturn in home sales. Noting that the real estate industry is a crucial driver of the Chinese economy, analysts said a swift transition from decline to stability will better help the world's second-largest economy achieve its annual growth target of around 5 percent. ▲ A property project under construction in Beijing. Tang Ke/For China Daily Ni Hong, minister of housing and urban-rural development, said on Thursday that the Chinese real estate market has seen broad-based stability since October, particularly in major cities. China will expand its "white list "program, which allows unfinished housing projects and developers to access credit, with the loan quota under this initiative set to ………………………………