Shanghai banks urged to lend to developers building rental homes in bid to increase affordable housing

A raft of developers in Shanghai have received a shot in the arm as the banking authorities encouraged local lenders to grant them fresh credit to build rental homes.The Shanghai headquarters of the People’s Bank of China’s and the local branch of the China Banking and Insurance Regulatory Commission acted as the matchmakers between lenders and developers in an effort to bolster rental home construction in the mainland’s financial capital where lofty housing prices have eroded competitiveness…

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