China's bank to support housing sector with $49.1 bn in PSL Loans

08 Jan 2024 CW Team

In December, China's central bank extended 350 billion yuan ($49.1 billion) in loans to policy banks through its pledged supplementary lending (PSL) facility, signalling potential increased assistance to the country's struggling housing sector. The People's Bank of China, in a statement, did not specify how the China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China would utilise these funds.

This marks the first monthly upturn in PSL loans since November 2022. Between September and November 2022, the PBOC had allocated 630 billion yuan in PSL loans to support the Chinese economy amid the COVID-19 pandemic.

"The rise in PSL loans suggests a strengthening quasi-fiscal policy, with potential ties to infrastructure development and affordable housing projects," remarked Ma Hong, a senior analyst at Zhixin Investment Research Institute.

In a bid to bolster the struggling property market, Beijing had reportedly planned to allocate at least 1 trillion yuan in low-cost financing for China's urban village redevelopment and affordable housing programs, as reported by Bloomberg News in November.

As of the end of December, outstanding PSL loans totalled 3.252 trillion yuan, compared to 2.902 trillion yuan at the end of November, according to the PBOC.

Initiated in 2014, the PSL program was initially intended to support property markets during downturns by funding urban redevelopment, consequently driving up property prices. China had heavily relied on PSL loans for shanty-town renovation between 2015 and 2018.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..