China’s Mystery Meat Gets Scrutiny as Builders Sell Bonds
This article is for subscribers only.
China’s builders are selling more bonds and spurning shadow banking, boosting transparency in an industry flagged by regulators as the No. 1 risk to the economy.
Property companies have raised a record $40 billion through international and domestic notes this year, up 31 percent from 2013, data compiled by Bloomberg show. Funding of real estate projects by trusts, a less-regulated type of financing targeting wealthy individuals, dropped 33 percent to 197.4 billion yuan ($32.2 billion), data from researcher Use Trust show.