More developers allowed to issue bonds

Beijing

CHINA will allow more property developers to issue bonds on the interbank market, the latest step to ease financing restrictions for the industry.

State-owned property companies rated "AA" and higher can sell medium-term notes, according to people familiar with the matter, who asked not to be identified because the rules have not been made public. Priority will be given to 16 central government-owned groups and their units, as well as developers owned by provinces, provincial capitals and cities of equal status, the sources said.