One of China’s big six state-owned banks has advanced plans to launch a fund to support the development of the Chinese rental housing market.
China Construction Bank (CCB) has announced that on 19 October it completed registration procedures for its rental housing fund and obtained a license from regulators.
CCB said that the “CCB Rental Housing Fund (Limited Partnership)” (建信住房租赁基金(有限合伙)) is for the purpose of “accelerating the development of the long-term rental housing market; increasing the supply of welfare rental housing, and expediting positive cycles and healthy development of the real estate sector.”
CCB will make a contribution of 29.999 billion yuan to the CCB Rental Housing Fund, whose scope is set at 30 billion yuan.
