The Chinese Communist Party’s Politburo last week took one of its biggest pro-developer policies by allowing local civic authorities to tweak real estate policies based on domestic realities, Nikkei reported, citing analysts.
The party’s central political committee backed basic housing support and allowed tinkering of escrow accounts that hold the cash paid by buyers of under-construction properties in such a way that it helps ease the liquidity woes of developers, the report added.
Read the full report: Nikkei Asia.
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