China pledges help for renters, among other moves to prop up its ailing property market

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — China has rolled out a flurry of measures to help prop up its ailing property market, while also promising to boost government spending. The moves to help renters and increase the supply of affordable housing to spur demand come just weeks before officials gather in Beijing for the annual meeting of the national congress. Chinese stocks sank on Friday, dragged lower once again by property-related shares. The government has expanded access to loans to counter the industry-wide meltdown triggered by a crackdown that began several years ago on excessive borrowing. On Thursday, senior Finance Ministry officials pledged to keep spending at a “necessary intensity.” Various regions have issued “white lists” of projects qualifying for lending.