China Banks Push Through $28 Billion Loans for Property Market

(Bloomberg) — China’s housing ministry said more than 200 billion yuan ($28 billion) of bank loans have been approved for property projects, the latest indication that lenders are heeding the government’s push to support the embattled real estate market.

Commercial banks had approved that amount as of Feb. 28, the ministry said Friday. That is a jump from about 29 billion yuan as of Feb. 20. About 6,000 projects are now included on whitelists that make them eligible for housing support.