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China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.

CCB, Photo By Bloomberg
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Photo: Bloomberg

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China Construction Bank Corp. will set up a 30 billion yuan ($4.2 billion) fund to buy properties from developers, as policy makers beef up efforts to contain a real estate crisis that’s weighing on the economy.
The fund will

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First Published: Sep 24 2022 | 12:02 PM IST

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