China’s Politburo to ensure delivery of unfinished homes to prevent mortgage-boycott crisis from escalating

China’s top leadership has for the first time underscored the importance of ensuring the delivery of homes, signalling the government’s commitment to avert a brewing crisis that involves creating a bailout fund to get cash-starved developers over the finishing line.

Local governments will be responsible for ensuring the delivery of housing projects, according to a statement issued on Thursday after a meeting of the Politburo, the Communist Party’s top decision-making body.