China is considering a new $137 billion stimulus package to boost the struggling housing market, Bloomberg reported, citing people familiar with the matter.
The People's Bank of China will inject the funds in stages through banks, with the money eventually going to households to buy homes. Officials are considering options, including so-called pledged supplementary loans and special loans, adding that the government could take the first step as early as this month.
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Create account Try a demo Download mobile app Download mobile appIn short order, we have seen bullish reactions on Chinese stock market indices, including CHN.cash.
Source: xStation
