Chinese state-owned real estate companies restarted overseas bond issuances in January after five months of suspension, paving the way for a rebound of the industry.
Some leading state-owned developers are opening up overseas financing channels again, experts said, expecting more companies to follow suit to inject more impetus into the country’s economic revival.
In January, the developers such as China Jinmao and Yuexiu Group took the lead in successfully issuing bonds in Macao, according to media reports, marking the resumption of overseas bond issuances five months after suspension.
While the total non-bank financing of real estate enterprises amounted 50.85 billion yuan ($7.49 billion) in January, a year-on-year decrease of 33.1 percent, as data released by China Index Academy on Tuesday showed, things are taking a positive turn followed by the resumption.
Affected by the weeklong Spring Festival holidays, the total amount of non-bank financing in January decreased year-on-year due to the tough economic situation, but the decline narrowed year-on-year, China Index Academy said, suggesting that industry financing has entered a relatively stable period after a year of adjustments.
Source: Global Times