Property News · June 28, 2018

China tightens funding for real estate and infrastructure firms, limits use of offshore bond proceeds


China has moved to limit the use of proceeds from offshore bonds sold by developers and local government financial vehicles. In a statement late on Wednesday, the National Development and Reform Commission, which regulates companies’ foreign debt sales, said proceeds from offshore note issuances should be used to repay existing debt, instead of investing in domestic property projects and replenishing working capital.
Some [firms]with small operating revenues and profits have registered…

Source : South China Morning Post
Read more…China tightens funding for real estate and infrastructure firms, limits use of offshore bond proceeds

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