Property companies are under high.......>

CHINA PRESS: Property companies are under high pressure for financing, painting

a contrasting picture to the acceleration of property investment growth in

China's Q1 data, 21st Century Business Herald reported Wednesday;

- Banks are strictly controlling capital for property investment under guidance

of the government's property policies, a manager of China Construction Bank told

the newspaper;

- Due to restrictions on property companies for domestic finance, companies are

increasingly seeking offshore financing, which rose 176% up y/y last year and

80.6% YTD up to April 16 this year, the research center of Centaline Group data

showed;

- This year will see property companies face their biggest financing pressures

in four years as financing channels such as bond issue are expected to be

tightened, the newspaper said.