China launches new pilot program

 

The China Securities Regulatory Commission launched a pilot program for real estate private equity investment funds.  It is unclear when and where the program — the country's latest bid to revive its property market — would start.  According to Bloomberg, the pilot program allows private equity funds in trials to invest in residential projects, including affordable homes and rental projects.  Investors, who would mainly be institutions, will have to make a minimum contribution of 10 million yuan (~$1.5M). The program also allows investment in commercial real estate and infrastructure projects.  In January, for the first time in 16 months, new home prices in 70 cities remained unchanged after seeing a decline in the previous months.