"Chinese Banks Unlock Billions in Loans for Real Estate Development Through Whitelist Strategy"

Chinese banks have approved 123.6 billion yuan ($17.20 billion) of development loans and issued 29.4 billion yuan under a "whitelist" mechanism aimed at injecting liquidity into the crisis-hit property sector. This mechanism, launched on Jan. 26, allows city governments to recommend residential projects to banks for financial support, with 214 cities across the nation participating and recommending over 5,300 projects to banks. The initiative is part of Beijing's efforts to stabilize the property sector's debt crisis and boost confidence in an industry that accounts for a quarter of China's GDP.