China’s local governments are racing to rescue home builders as the coronavirus outbreak threatens to squeeze sales and liquidity in an industry that has become a powerful engine of growth for the economy.The authorities in Wuxi in the eastern province of Jiangsu unveiled 17 measures on February 12 to help its developers cope with sliding slump. Hengyang, the second largest city in south-central Hunan province, followed two days with some tax waiver for homebuyers to help rejuvenate sales.Since…
Source : South China Morning Post
Read more…China’s local governments offer lifeline for builders facing a squeeze in home sales as coronavirus spreads















