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Chinese real estate developers have started to use various methods to lower borrowings in a rush to comply with the new "red lines" which imposed caps on their debt ratios.
Chinese regulators including the People's Bank of China (PBOC), the Ministry of Housing and Urban-Rural Development and the China Banking and Insurance Regulatory Commission (CBIRC) outlined caps for debt-to-cash, debt-to-assets and debt-to-equity ratios last month at a meeting with 12 leading property developers in Beijing.
Dubbed “the three red lines”, the cap for the debt-to-assets . . .
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