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China Expands Support To Improve Private Developer Financing

MNI (Singapore)

The scope and scale of debt financing support for private property developers is expected to be expanded as the financing environment shows signs of recovery, China Securities Journal reported. The People’s Bank of China has provided funds through re-lending programs to support private developers’ bond issuance with credit enhancement and credit risk mitigation certificates, which is expected to support about CNY250 billion of bond financing, the newspaper said. The total non-bank financing of developers was CNY55.68 billion in October, a rise of 16.4% y/y, the first positive growth since this year, the newspaper said citing data from China Index Academy.

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