-- China ’s mega banks are urging branch managers to lend to state-owned companies that buy unsold homes, offering a quick show of support for the government’s housing rescue package unveiled last week.‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence TerrorIndustrial & Commercial Bank of China Ltd. and other state lenders are guiding managers to lend against the purchased properties as collateral, according to people familiar with the matter.
The thrust will center around making merger and acquisition loans, with rates set on a case by case basis, the people said, asking not to be named discussing private information. Banks currently charge about 4% annualized rates for state developers and twice as much for private firms, they added. Trump lashes out after DOJ reveals classified documents were found in ex-president’s bedroom at Mar-a-Lago
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Source: News Formal (newsformal.com)
China Bank Of China State-Owned Companies
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