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 China is set to enhance its financial backing for real estate projects included in its “whitelist,” committing to accelerate bank lending for unfinished developments to reach 4 trillion yuan (approximately $561.8 billion) by the year's end, as announced by the country’s housing ministry. China Boosts Financial Support for Real Estate Projects Ni Hong, the Minister of Housing and Urban-Rural Development, revealed the plans during a press conference attended by officials from the central bank, finance ministry, and National Financial Regulatory Administration. Currently, 2.23 trillion yuan has been approved in loans for whitelisted developers, and this amount is expected to nearly double by the end of 2024. Initiated in January, the “whitelist” program allows city governments to propose residential projects to banks for expedited lending. The primary goal is to complete unfinished housing developments, ensuring they can be delivered to buyers. All commercial housing projects are no...