Jun 15, 2023 01:20 AM

ECONOMY

China Ramps Up Approvals of Developers’ Share Sales

By Wang Jing and Han Wei

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China’s housing market recovery weakened during the second quarter after a short rebound in the first.

China’s housing market recovery weakened during the second quarter after a short rebound in the first.

Regulators have been accelerating approvals for real estate developers’ private share sales, signaling a doubling-down on support to help the companies alleviate liquidity strains.

Since late May, at least six property companies disclosed that their private share placements were cleared by regulators. The planned offerings by the six developers, including Poly Real Estate Group Co. Ltd., CCCG Real Estate Co. Ltd. and China Merchants Property Development Co. Ltd., could raise more than 40 billion yuan ($5.59 billion) altogether, according to a research note by Sinolink Securities.

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