Here is a list of the day’s latest China real estate news collected from around the web:
- Developers seek financing in Hong Kong
An increasing number of mainland real estate developers have started to seek sources of financing in Hong Kong, as credit for the sector is still tight in the mainland, experts noted Monday.
Shanghai-based developer CIFI Group launched its pre-listing road show Monday, Securities Daily newspaper reported. The company aims to raise as much as $270 million by selling about 1.3 billion shares on the Hong Kong Stock Exchange.
Future Land Development Holdings, another Shanghai-based developer, also started its initial public offering (IPO) on the Hong Kong bourse Monday. Other domestic developers such as Chongqing-based Forebase Group and Sincere Group are also eying a listing in Hong Kong.
- China’s Government Debt Issues and the Shadow Stimulus
China’s shadow banking sector has gradually moved from the periphery of the economy to become an almost indispensible driver of growth. Not that long ago, the shadows were where small firms got the cash no one else would give them. Later, when China moved to rein in real estate speculation, the shadow banks proved the be lifeblood of property developers who were cut off almost overnight from bank credit. And now, we have the shadow stimulus.
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