BEIJING/HONG KONG : China's Zhengzhou city will help to ensure developers have enough funds to complete homes under shantytown redevelopment projects through support from the China Development Bank, two sources with knowledge of the situation said.
The Zhengzhou city government and China Development Bank, one of the country's top policy lenders, did not immediately respond to a request for comment. Media reported on Wednesday that the Zhengzhou city government met several bigger developers and proposed ways to resolve the problem of unfinished homes such as by loans to developers, mergers and acquisitions, liquidation and restructuring, as well as by turning them into subsidised rental housing.
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