(ZEROHEDGE) – A few days ago we mocked the relentless China newsmill, saying that “Every day there are 5 stories about some new imminent stimulus out of China and every day nothing at all happens.”
Well, it appears that someone in Beijing heard us because just days later we got not one but two major “stimmy” developments:
The first one hit early on Monday when we learned that to contain the collapse of China’s critical housing sector, which at $62 trillion is the world’s largest asset class, Beijing would offer 200 billion yuan ($29.3 billion) in “special loans” to ensure stalled housing projects are delivered to buyers. This new lending program “would make it the biggest financial commitment yet from Beijing to contain a property crisis that’s seen home prices slump and real estate sales plummet, at a time when growing housing market instability also means a growing threat to political stability during the sensitive run-up to the Communist Party’s leadership transition later this year.
