China rental push spurs new breed of property bonds
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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.
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