White list 'only for reference'

A so-called white list of 50 embattled developers drawn up by China's regulators may have only been drawn up for reference purposes and it's almost impossible that any of these firms will be granted loans without collateral, mainland media The Economic Observer said.

Several sources also said the banks haven't received any documents related to the white list, according to the report.

Others said the regulators did draft a white list but it was only a reference list for possible loans.

Most of the sources working in the banks and property firms said there was little chance of unsecured loans being granted is this went against existing regulations.

Their comments came after a report last month that Chinese regulators are drafting a list of 50 developers eligible for a range of financing, which is said to include China Vanke (2202), Seazen Group (1030) and Longfor (0960).

Another report has stated that China may allow banks to offer unsecured short-term loans to qualified developers for the first time to ease the property crisis that's dragging down growth in the world's second-largest economy.