NDRC sparks new Chinese property rush

摘要

International bond sales from China's property sector show no sign of abating despite new restrictions on the use of offshore bond proceeds in a bid to clamp down on property speculation. Eight developers raised US$2.4bn from offshore bonds last week, days after the National Development and Reform Commission issued a notice on July 12 that developers would only be allowed to use offshore bonds to refinance medium or long-term offshore borrowings due to mature within a year.