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China Developers' Bond Sales Rise as Controls Ease: Yicai

CHINA PRESS
MNI (Singapore)

Chinese real estate developers are selling more bonds as regulators ease the tightening of real estate financing, Yicai.com reported. The scale of real estate bond issuance reached CNY37.14 billion in November, a sharp increase of 186% from October, the newspaper said citing data by the China Index Research Institute. The average interest rate of bonds fell by 0.28 percentage point to 3.80% from the previous month. However, debt financing from overseas markets continues to slow with the issuance scale in November set an annual low of CNY1.01 billion. Issuers will have to raise interest rates as investors’ interests declined after some defaults in October, the newspaper said.

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