Free Trial

China Asks Developers to Acquire Assets of Troubled Firms: News

CHINA PRESS
MNI (Singapore)

China’s regulators have met with large developers to encourage those in good standing to buy the assets of competitors in financial trouble, as a way to diffuse the risks in the real estate sector hard hit by regulatory tightening, the PBOC-run Financial News reported. The central bank and regulator CBIRC are also asking banks to push for the acquisitions of loans, and not to cut off funding to large developers facing risks and cash crunch, said the newspaper. China recently introduced a series of measures to ease tensions and restore normal real estate sales and financing, said the newspaper. Developers sold CNY47.3 billion bonds in November, up 55.6% from October, while individual mortgages rose for two months, it said.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.