Chinese developers say funding woes undermine pledges of support

HONG KONG: China’s pledges to shore up its embattled property industry have done little to boost prospects for the sector, according to developers, with access to funding still challenging and many local government authorities reluctant to ease rules more effectively.

The world’s second-largest economy needs more decisive policy easing at the city level to stimulate demand from wary buyers and inject new credit to stop more property-related firms from defaulting, executives at top developers said.