China property developer save doesn’t look like the end of the property adjustment at all:
China plans to let property companies resume issuance of asset-backed securities, ending a three-month market freeze as authorities move to insulate higher-rated developers from an industrywide funding crunch.
Financial regulators recently told Chinese exchanges that “high quality” developers can apply to issue new ABS to repay outstanding debt, people familiar with the matter said, asking not to be identified discussing private information. A unit of state-owned developer China Resources Land plans to issue 520 million yuan ($81.5 million) of ABS this week.
