Chinese property firms shares up on reports of more access to escrow funds

Chinese property firms shares up on reports of more access to escrow funds

Beijing, China. Photo by zhang kaiyv on Unsplash

Shares of Chinese property developers climbed on Friday, following media reports that the sector is gaining easier access to presale proceeds from residential projects – the latest move by authorities to ease the industry’s severe cash crunch.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter