Global EditionASIA 中文双语Français
Home / Business / Finance

Offshore bond issuance by Chinese property developers to decline in H2: Moody's

Xinhua | Updated: 2019-09-07 14:14
Share - WeChat
A logo of credit rating agency Moody's Investor Services. [Photo/Agencies]

BEIJING - Offshore bond issuance by Chinese property developers will decline in the second half of 2019 due to lower refinancing needs, depleted quotas and new restrictions, according to a report by Credit rating agency Moody's.

"Offshore bond issuance among the rated developers totaled $1.6 billion in August, down significantly from $7.4 billion in July, and will likely remain low, with only $3.7 billion of offshore bonds set to mature over the remainder of the year," said Cedric Lai, Moody's vice-president and senior analyst.

Meanwhile, year-on-year national sales value growth continued to slow to 8 percent in July from 8.9 percent in June and 10.4 percent in May, mainly driven by a 1.3-percent decline in sales volume.

"We expect national property sales growth will continue to slow in the second half amid tight financing conditions and regulatory measures," added Lai.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349