HONG KONG, Dec 9 (Reuters) – Financial institution of China, considered one of China’s prime 4 state-owned banks, has provided offshore loans to cash-starved Chinese language property developer Longfor Group Holdings Ltd (0960.HK), it stated in a press release on Friday.
The transfer was a part of the association by regulators to assist builders repay their money owed as China has stepped up help in latest weeks to undo a liquidity squeeze that has stifled the sector, which makes up 1 / 4 of the world’s second-largest financial system and has been a key driver of development.
Reporting by Meg Shen; Modifying by Toby Chopra
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