Chinese mainland property developers are having a massive wave of fundraising with borrowing cost declining sharply amid looser liquidity condition. With more cash in hand, they are increasing spending on land purchase, driving land prices higher.
According to Tong Ce Real Estate, 40 major listed property developers raised 102.4 billion yuan in March, the highest in 16 months, surging 85.25 per cent month-on-month and 63 per cent higher than a year earlier. It's the first time that one-month amount raised by developers has exceeded 100 billion yuan mark after a total of 124.6 . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you. Don't miss out!
What you'll get:
- Original and in-depth reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related information.
- Weekly Market Wrap-up on Chinese equities, bonds, the yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
Not ready for the full service? Subscribe to our Free Weekly Newsletter first.
Already have an account? Sign In