Lennar Corp, one of the US's largest home builders, is in talks with China Development Bank (CDB) to contribute approximately $1.7 billion in capital toward two long-delayed San Francisco projects that would transform two former naval bases into large-scale housing developments, according to people familiar with the matter, Global Times reported.
In recent years, State money - in large part provided by CDB and its counterpart, the Export-Import Bank of China - has funded major infrastructure and resource projects around the world, the bulk of which has been in developing countries in Africa, South America and Asia, the newspaper reported.