Poly Property Dollar Bonds Gain – and more Today’s China Real Estate Links | May 13, 2013

Here is a list of the day’s latest China real estate news collected from around the web:

• Poly Property Dollar Bonds Gain After Busiest Day in Two Weeks

  Poly Property Group’s (119) debut dollar-denominated bonds rose today after the Chinese developer priced its offering on the busiest day for U.S. currency sales from Asia in two weeks.

  Poly Property’s notes, which priced at par, rose as high as 101.4 cents on the dollar as of 12:11 p.m. in Hong Kong, according to prices quoted by Royal Bank of Scotland Group Plc. Five companies from Asia outside Japan sold securities in the U.S. currency yesterday, the most offerings in a single day since April 25, data compiled by Bloomberg show.

  Chinese companies led issuance, accounting for 77 percent of the $2.47 billion raised, the data show. China Railway Construction Corp. and Poly Property borrowed $800 million and $500 million respectively, while Want Want China Holdings Ltd. (151) priced $600 million of notes in its first dollar issue.

• China inflation data shows central bank policy dilemma

  China’s annual consumer inflation accelerated more than expected in April while factory prices fell for a 14th consecutive month, highlighting the dilemma facing the central bank as it balances support for the economy against the threat of rising prices.

  With global growth sputtering, China’s central bank has limited room to move, unlike counterparts in South Korea and Australia which both made surprise rate cuts this week.

• Talking with China’s Best Real Estate Stock Picker

  Reading China’s property market was tougher than usual in 2012 due to uncertainty over how effective the government would be in curbing stubbornly rising prices. Chen Geng, a Shanghai-based analyst at Phillip Securities, figured the best way to take the market’s temperature was to get up close and personal.

  “Sometimes when I was out on road trips with friends, we’d stop by a showroom and I’d talk to the agents and look at the quality of the apartments, which would give an idea of what sales will be like,” said Mr. Chen, adding that he also chased local news reports of overnight queues in property showrooms.

This list is updated daily, so tune in again tomorrow for more up to date information.