Greenland becomes first Chinese state-backed developer to propose delay in dollar bond payment, Shanghai exchange tries to facilitate developers’ financing

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The Shanghai Stock Exchange is making efforts to facilitate the financing of Chinese property developers by spearheading a call between five homebuilders and investors, after Greenland Holdings became the first state-backed developer to propose a delay in dollar bond payments.

The developers including Longfor Group Holdings, Country Garden, Midea Real Estate Holding, CIFI Holdings and Seazen Group, presented their financial and business conditions during the call, a move aimed at enhancing investor confidence.