Funds raised by Chinese developers slumped in August after the authorities ramped up scrutiny on homebuilders’ financing to crack down on speculative investments.
According to Tongce Real Estate Consulting, the 40 major listed developers raised a total of 36.83 billion yuan in August, slumping over 58 per cent from a month earlier.
Homebuilders got 7.46 billion yuan loans from Chinese banks, 41.8 per cent less than July. Trust companies' lending to developers slumped 63.3 per cent . . .
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