Chinese city Chengdu relaxes rules for property developers

Chengdu is in the southwestern province of Sichuan. Its local housing authority says:

  • it’ll accelerate approvals for home sales and property loans
  • Will ease restrictions on using proceeds from pre-sales
Bloomberg has the report on moves by the city with a population of around 21m people. 
  • “Chengdu is the first city authority to call for faster property-related loans in a clear official statement,” Yan Yuejin, research director at Shanghai-based E-house China Research and Development Institute, said. “We may see other initiatives to press banks on faster mortgages soon.”

More at that Bloomberg link above (may be gated).

Chengdu is in the southwestern province of Sichuan.

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