July 28 (Reuters) - China is seeking to mobilise up to 1 trillion yuan ($148.19 billion) of loans for stalled property developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector.

The People's Bank of China will initially issue about 200 billion yuan ($29.64 billion) of low-interest loans, charging about 1.75% a year, to state commercial banks, the paper said, citing people involved in the discussions. ($1=6.7481 Chinese yuan renminbi) (Reporting by Akriti Sharma in Bengaluru; Editing by Clarence Fernandez)