China will stand firm on policies to curb excess borrowing by property developers even as it makes financing tweaks to help home buyers and meet 'reasonable' demand amid an industry liquidity crunch, say bankers and analysts.
A man walks on a scaffolding at the construction site of the Beijing Xishan Palace apartment complex developed by Kaisa Group Holdings Ltd in Beijing, China, November 5, 2021.
State media also reported that developers and a bond market industry group discussed potential debt issuance by developers in the inter-bank market, in what would be an easing of restrictions. "There are absolutely no fundamental changes or relaxations on the property lending caps," said a banker at a state lender in Beijing who declined to be named as they are not authorised to speak to media. "But there's always leeway for lenders to adjust for themselves to reflect the latest guidance of 'meeting the normal financing needs' of both home buyers and developers.
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