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China property funding dries up as trusts exit

Default risks at developers expected to rise this year given huge amount of property trust products coming due

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Recent data have showed signs of recovery in China's property market. New home sales surged to 938.4 billion yuan in December from the previous month.


CHINA'S investment trusts are pulling financing for the real estate industry as Kaisa Group Holdings Ltd's missed payments heighten default concerns.

Issuance of property-related products, which channel money from wealthy individual investors, tumbled 62 per cent from a