Real estate loans in China rose by around 200 billion yuan (HK$244.53 billion) in November compared to the same month last year, state media reported, as authorities reiterated that China Evergrande's (3333) debt crisis will pose little impact on the property market, which is returning to normalcy.
Meanwhile, some major developers are planning to issue asset-backed securities in the near term, a further sign that regulators are marginally broadening financial channels for developers amid Evergrande's debt crisis.
Country Garden (2007), the country's top property developer, said yesterday it is considering applying for the issuance of supply chain ABS in the near term.
Four other developers, including Huafa Industrial and Greentown China, have received regulatory feedback on their plans to issue ABS totalling nearly 16 billion yuan, the Shanghai Stock Exchange disclosed on December 3.
Evergrande, wrestling with debts of more than US$300 billion (HK$2.34 billion), said last Friday that there was "no guarantee" it would have enough funds to meet debt repayments, prompting the country's top financial regulators to calm the market.
