China plans to ask firms run by central government to buy homes, Bloomberg News reports

Reuters

Aug 14

Aug 14 (Reuters) - China is preparing to mobilise companies owned by the central government in Beijing to buy unsold homes from distressed property developers, Bloomberg News reported on Thursday.

Regulators are planning to ask some of the biggest state-owned enterprises and bad debt managers including China Cinda Asset Management 1359.HK to help clear the housing glut, the report said citing people familiar with the matter.

(Reporting by Shivani Tanna in Bengaluru; Editing by Jacqueline Wong)

((ShivaniJayesh.Tanna@thomsonreuters.com;))

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