China announced a 16-page playbook to finance its real estate sector and boost its economy

China declared a 16-page playbook to fund the weak real estate sector which includes packages for buyers and developers.
The first point sets rules for financiers to treat state and private developers equally and support those who have sound corporate governance.
The country also wants to boost the economy by giving first-time homebuyers an advantage.
Several people invested in property despite the high mortgages but China's zero-covid policy disrupted manufacturing and other fundamental industries where the majority of the Chinese population was employed. The country plans to restructure the debt of such people to give them stability and provide a layer of protection to the banking industry.

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