China has banned local
governments from borrowing from banks to finance land purchases and
preparations for property development. The plan is for local
governments to reduce the number of institutions responsible for land
reserve, whittling down the many departments to just one. Land reserve institutions should no longer have financing,
construction or land development arms, these departments should be closed or
turned into enterprises by the end of this year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment