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ECONOMY

Use Offshore Bonds to Repay Debt, Developers Told

A real estate development is seen in Yichang, Hubei province, in March 2017. Photo: VCG
A real estate development is seen in Yichang, Hubei province, in March 2017. Photo: VCG

* National Development and Reform Development tells real estate developers to commit in writing to using funds raised through Chinese offshore bonds to refinance maturing bonds

* Regulator worries that scale of foreign borrowing has surpassed the borrowers’ ability to generate profits

(Beijing) — China’s top economic planner has a message for real estate developers issuing offshore bonds: Pay back your maturing debts first.

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