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Real estate trust product issuance tumbled in July after authorities tightened grip

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

Chinese trust companies issued sharply less products to raise funds for the real estate sector after the authorities stepped up scrutiny on their lending to homebuilders in a move to prevent the property market from overheating.

Trust firms issued 323 collective trust vehicles that are designed for investment in the real estate sector which raised 65.6 billion yuan in July, according to data from Yonglee Trust, a trust industry consultancy. That's sharply lower than 605 products for 108 . . .

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