50 Sino-Ocean, Country Garden projects make the cut for aid

Sino-Ocean (3377) and Country Garden (2007) have about 50 projects altogether listed by Chinese local governments as suitable for financing support.

Under a so-called "white lists" mechanism, residential projects on the lists could receive more financing support as local governments will gear up to recommend such projects to banks.

Cailian reported that Sino-Ocean had nearly 20 projects included in the lists of the cities, including Xian, Chengdu, Wuhan and Xiamen.

This came after cash-strapped developer Country Garden said on Saturday that more than 30 of its projects were included in "white lists" of the provinces of Heinan, Hubei, Sichuan, Shandong and the municipality Chongqing.

Reuters reported on Friday that China aims to ramp up financing for home projects in the coming days as part of its support measures for real estate firms, but banks' reluctance to lend to the sector will remain a major obstacle for the distressed developers that need fresh funding the most.

In other news, the proportion of mainlanders who plan to buy a home in six months has fallen to less than 20 percent, a survey by China Index Academy showed.

The percentage of people with such plans dropped 4.4 percentage points to 19.9 percent last month from a month ago, the survey showed.

The China Index Academy said the survey interviewed 12,000 people mainly aged between 26 and 40 from second-tier to fourth-tier cities in China.