China’s state media quoted the cabinet meeting as saying that Beijing will publish detailed steps for a set of newly-announced policy measures in early September.

Key takeaways

China will guide commercial banks to provide medium- and long-term loans for key projects and equipment upgrading.

To prop up the weak property market, China will also support rigid housing demand.

"Local governments should have 'one policy for one city' to make good use of policy tools" and flexibly use the special loans for home delivery.

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