The report says that Beijing is aiming to roll out new rules to make it easier for property developers to access pre-sale funds held in escrow accounts, in a bid to ease cash constraints in the embattled sector.
The new rules would help developers to better meet debt obligations by letting them use funds in escrow that are currently controlled by municipal governments. It is said that the new rules could be rolled out as early as the end of January.
That is some added good news for Chinese markets, as the government looks to be stepping in to try and prevent a much wider and broad-scale crisis stemming from the property market.
