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CN Mulls Allowing Developers to Tap Pre-sale Funds to Solve Financial Woes: Report
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2022/01/19 16:45
China is drafting national rules to make the access to pre-sale funds from escrow accounts easier for real estate developers, aiming to address the sector's grave cash crunch, Reuters cited people with knowledge of the matter.

Developers can tap funds in escrow currently controlled by municipal governments without central supervision under the new rules, which help them meet debt obligations, make payments to suppliers and finance operations.

Related NewsUBS Projects Each 5% RMB Fall vs USD to Dent Mkt Cap of CN Developers by 11%, Cash Flow by 0.8%

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