China has approved bank loans totaling 7 trillion yuan ($981.9 billion) for unfinished real estate projects through a State-coordinated "whitelist" mechanism designed to ensure the completion of stalled housing projects and restore confidence in the tepid property market, analysts said.
"As of now, over 7.5 million presold homes that were previously undelivered have been successfully handed over to buyers across the country, effectively safeguarding the legitimate rights and interests of homebuyers," said Dong Jianguo, vice-minister of housing and urban-rural development.
