China will expand a “white list” of housing projects eligible for financing and increase bank lending for such developments to four trillion yuan or about US$562bil, Housing and Urban-Rural Development Minister Ni Hong says.

China has announced it will expand the amount of financing available for housing projects on a “white list” to 4 trillion yuan ($562 billion), seeking to reverse a slump in the property industry

China will expand a "white list" of housing projects eligible for financing and increase bank lending for such developments to 4 trillion yuan ($562 billion), Minister of Housing and Urban-Rural Development Ni Hong said on Thursday.

China plans to almost double credit support for “whitelist” housing projects to Rmb4tn ($562bn) as part of official efforts to reinvigorate its property sector and turn around the economy. The whitelist was introduced in January and includes projects and developers eligible to receive further financing from local and state-owned banks to help them complete unfinished projects.

China's Housing Minister Ni Hong, speaking at a briefing, says the government will expand a program to support “white list” property projects to 4 trillion yuan ($562 billion) from about 2.23 trillion yuan already deployed.

China said Thursday it would boost credit available for unfinished housing projects to more than $500 billion as it unveiled another round of measures to shore up the sector and try to reignite the economy.

Ni Hong, China's minister of housing and urban-rural development, made the announcement at a press conference on Thursday.

China to expand credit support to CNY 4 trillion to a "white list" of housing projects eligible for financing, the Minister of Housing and Urban-Rural Development Ni Hong said on Thursday. These funds will be used to assist troubled property builders,