$84 Billion: Bank to Bail Out China’s Property Sector

China's real estate market is heading south and Beijing is now desperate to pump the brakes with major money in hand. Bank of China, the country's fourth-largest bank, has pledged a hefty line of credit to 10 real estate developers. Meaning they can borrow on a revolving basis to smooth out cash flow. The amount totals more than $600 billion yuan, equivalent to about US$84 billion.