China rental push spurs new breed of property bonds

Hong Kong

CHINA'S push to develop the rental housing sector is offering cash-strapped property developers a way back to the onshore bond market after more than a year of issuance restrictions aimed at cooling down property prices.

Longfor Chongqing Enterprise Development, a domestic subsidiary of Hong Kong-listed Longfor Properties, last week filed a plan with the Shanghai Stock Exchange to issue special rental housing bonds, with proceeds exclusively pledged to rental projects.