Caixin
Nov 29, 2022 08:44 PM
FINANCE

China’s Property Support Seen as Helping State-Owned, Quality Private Developers

pictureOn Nov. 15, Huai'an City, Jiangsu province, took photos of a real estate construction site. Photo: VCG
pictureOn Nov. 15, Huai'an City, Jiangsu province, took photos of a real estate construction site. Photo: VCG

China’s latest helping hand to the property market is expected to benefit state-owned and quality private developers.

Allowing developers to raise money on the Chinese mainland and Hong Kong stock markets could help firms get their hands on fresh cash and acquire assets from their peers that have defaulted, sources in finance and real estate told Caixin.

The new measures, announced by the China Securities Regulatory Commission (CSRC) in a Monday Q&A, allow such share sales for purposes including debt repayments and acquisitions. It was the latest in a slew of measures regulators have rolled out this month to bolster the country’s slumping real estate industry.

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