China Offers Cash for Urban Revamp, Testing New Ways to Boost Growth [BNN Bloomberg (Canada)]
Jones Lang LaSalle Incorporated (JLL)
Last jones lang lasalle incorporated earnings: 2/11 07:30 am
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Source: BNN Bloomberg
Fifteen qualified cities can get as much as 1.2 billion yuan ($166 million) each, the Ministry of Finance said in a statement late Monday. The money will go to improve pipelines, power networks or drainage systems, and to overhaul public buildings and ensure they're accessible for children and older people, it said. The program is due to last for three years. Urban renovation, along with affordable housing and multi-functional infrastructure, is one of Beijing's “three major projects” seen as key to offsetting a property slump that has dragged consumer confidence down. The People's Bank of China said last year it's ready to back them with 500 billion yuan in loans. The Ministry's statement offers rare details about the magnitude of direct government funding for the projects, which will likely start on a trial basis and then potentially get rolled out more broadly. “If the pilot program is successful, it will likely increase the investment in future,” said Bruce Pang, chief econ
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Sec Filings
- 5/6/24 - Form 10-Q
- 5/6/24 - Form 8-K
- 5/1/24 - Form 8-K
- JLL's page on the SEC website