Caixin
Nov 29, 2022 06:02 AM
CHINA

Cover Story: China’s Share Markets Back on the Fundraising Menu for Ailing Developers (Part 2)

In the first quarter 2021, the outstanding value of Chinese developers’ overseas bonds reached a record high of $269.4 billion, compared with $91 billion at the end of 2014.
In the first quarter 2021, the outstanding value of Chinese developers’ overseas bonds reached a record high of $269.4 billion, compared with $91 billion at the end of 2014.

China is reopening the door to the domestic stock market to cash-strapped property developers by lifting a 12-year ban on share sales in yet another major bid by policymakers to pull the ailing real estate sector out of a slump that has seen sales fall off a cliff and a flood of defaults.

The measure will allow listed builders to raise funds through domestic share sales for debt repayments and acquisitions, according to a Monday announcement by the China Securities Regulatory Commission (CSRC). The statement said the policy adjustment will take effect immediately.

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