More from Xinhua on the roll-out of further property sector support measures:
The Chinese authorities intend to boost developers’ balance sheets via loans and bond issuances. The government’s plan is to improve developers’ balance sheets by improving quality firms with big size and systemic significance. Financial institutions will be encouraged to work with quality developers on debt extension on a reasonable basis. Developers’ offshore debt repayments may be supported by policy support such as better forex management. For example, “Three Red Lines” policy for 30 quality developers will be improved, while maintaining the basic framework unchanged.
