Chinese officials meet to mull support for developers: Bloomberg [Yahoo! Finance]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
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Source: Yahoo! Finance
The State Council -- the Chinese government's top body -- is seeking input from key industry players as they seek to finalise a strategy, with several developers embroiled in an unprecedented debt crisis. Among those plans could be a scheme by Beijing to have local governments purchase millions of unsold homes across the country, Bloomberg said. Friday's meeting is being attended by regulators, representatives of top banks, local governments and the property market, Bloomberg News said. Beijing has not confirmed the meeting will take place, but the State Council has said it will convene a briefing at 4pm local time (0800 GMT), attended by officials from the housing ministry as well as those from China's top regulator and its central bank. Shares in Chinese developers have rallied in Hong Kong in recent days on hopes of fresh support for the sector. Liu Aihua, spokesperson and chief economist of the National Bureau of Statistics, told a news conference on Friday that the cou
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