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China real estate crisis: Banks to lend $18bn for 'white list' projects

SHANGHAI -- China's biggest commercial banks are prepared to extend over 130 billion yuan ($18 billion) of financing for real estate projects, new disclosures show, in response to the government's latest call to support the ailing property sector.

Agricultural Bank of China approved more than 40 billion yuan in financing, citing its "responsibility as a state-owned bank" in a statement last week.

Read more on asia.nikkei.com