PBoC aims to raise $150 billion for property bailouts, reports say

The People's Bank of China

China’s central bank aims to mobilise up to 1 trillion yuan ($148 billion) to bail out stalled property developments, the Financial Times reported on July 28.

The Chinese authorities are confronting a growing crisis in the country’s property market. Many homebuyers have stopped paying mortgages for unfinished flats over the past weeks in an escalating nationwide campaign. The boycott on home loans has spread to at least 300 housing projects, according to some reports.

The People’s Bank of

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