'White list' project loans total 3.6 trillion

Approved loans for national "white-list" projects amounted to 3.6 trillion yuan ($494.8 billion) by the end of November, said Dong Jianguo, vice-minister of housing and urban-rural development, on Saturday.

Projects on the white list are considered compliant with regulations and eligible for financial support.

This year, the Ministry of Housing and Urban-Rural Development, in collaboration with the National Financial Regulatory Administration, established a comprehensive coordination framework for real estate financing spanning national, provincial and city-levels. This initiative aims to propel regulation-compliant real estate development projects forward, ensuring full and quick disbursement of approved loans.

Amid a series of policy incentives, confidence in the real estate market has received a significant boost, signaling a favorable shift towards stabilization following a period of decline, Dong said.

According to data from the Ministry of Housing and Urban-Rural Development's real estate market monitoring system, newly constructed commercial houses witnessed consecutive monthly and yearly growth in online transaction areas in October and November.

Notably, first-tier cities have been instrumental in driving the surge in commercial housing transactions of second and third-tier cities. Moreover, current figures indicate a positive year-on-year expansion in the transaction areas of pre-owned houses.