China said it is launching a pilot program for real estate private equity investment funds as part of efforts to promote the property industry.
(Bloomberg) — China said it is launching a pilot program for real estate private equity investment funds as part of efforts to promote the property industry.
The investment scope of the funds would include residential housing, commercial property and infrastructure projects, the China Securities Regulatory Commission said in a statement Monday.
Investors in the pilot products have to put in no less than 10 million yuan ($1.5 million) and would mainly be institutional investors, according to the statement. It was unclear when and where the pilot would start.
Chinese regulators unveiled a sweeping plan late last year to revive the slumping housing industry, focusing mainly on the supply side by pledging financial support to cash-strapped developers. China’s home prices steadied in January, ending a 16-month decline after the government expanded stimulus policies for the sector.
–With assistance from Zhang Dingmin and Zheng Li.
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