China's 'whitelist' projects get $495 billion loans by end-Nov

Loans Approved for Whitelist Development Projects in China

BEIJING (Reuters) – The amount of loans approved for "whitelist" development projects across China has reached 3.6 trillion yuan ($494.80 billion) as of the end of November, said Housing and Urban-rural Development Vice Minister Dong Jianguo on Saturday.

At the same time, 3.24 million housing units have been delivered in China, significantly improving market expectations, according to Dong.

China's local governments began compiling a "whitelist" of housing projects for loans earlier this year, providing troubled developers with a lifeline to obtain funding for a sector that has strained the economy with sluggish growth.

> ($1 = 7.2756 Chinese yuan)