The state-owned lender said in a statement late on Friday that it plans to invest in real estate projects and turn them into affordable rental houses.

The decision came after Hong Kong banks raised their best lending rate by 12.5 basis points on Thursday

Developers that have already missed debt repayments may not qualify for the programme, industry sources said to Caixin Global.

The rumoured move comes after loans secured by Evergrande Property Services were diverted to the parent group

The offshore bondholder group, which is represented by Lazard advisory group, made the offer to buy Kaisa's stalled projects to the developer's advisor CITIC Securities, sources said

The listing by property services arm Onewo Space-Tech Service aims to raise up to $783 million in a deal that will be a key test for investor appetite

With a lack of building at many sites or clear guidance from local officials, China's mortgage boycott has spread to 342 unfinished projects.

Out of the 70 cities surveyed by the NBS, 50 reported price falls in August, while new construction starts measured by floor area plunged 46% on-year, the biggest fall in almost a decade

Interest rates for three-year deposits were cut by 0.15 percentage points and rates for three-year certificates of deposit were also lowered by a 0.1 percentage point

News that officials in Guangzhou have allowed home price cuts of up to 20% in the city's highly regulated market sent shares of major construction companies soaring on Thursday.

A lender has seized China Evergrande's headquarters in Hong Kong after the hugely indebted developer defaulted on a loan and was unable to sell the 26-storey tower, the FT says.

Officials in Zhengzhou, a city in central Henan province, want to use special funds to begin work soon on stalled housing projects. Some builders being urged to declare themselves bankrupt