China Rolls Out Unprecedented Plan to Rescue Ailing Property Sector

A man walks in front of unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China, on Sept. 15, 2021. Carlos Garcia Rawlins/Reuters

China’s financial regulators have issued an unprecedented 16-point plan to rescue the country’s floundering real estate market.

The People’s Bank of China and the China Banking and Insurance Regulatory Commission jointly issued the plan last week in a note to financial institutions to support real estate companies.