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Chinese property developers’ financing surged in January

Chinese real estate developers are rushing to raise money to repay maturing debts as a slowdown of home sales in a cooling housing market is placing more pressure on the cash-starved sector.

According to the Tongce Real Estate Research, 40 major real estate developers raised 79 billion yuan in January through debt or equity financing, an increase of 335.23 per cent from the 18.15 billion yuan in December 2018, the highest single-month amount in nearly one year.

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