Africa-Press – Malawi. Some Chinese developers must now install monitoring equipment at their projects, under official measures which took effect this month. The rules apply to firms that have received at least 30 million yuan ($4.2m; £3.3m) of government funding.
It comes as authorities move to support China’s crisis-hit property industry. In January, the country’s housing ministry said it would offer more bailout loans to developers struggling with debt and a slowdown in demand.
Announcing the new surveillance rules in January, the National Development and Reform Commission said in a statement that it was moving to “regulate the implementation of projects and the use of funding”.
“These measures are important to strengthen investment supervision… and improve the effectiveness of government investment,” it added.
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