(Corrects spelling of Chinese in headline)HONG KONG : Four more property developers listed in mainland China said they have received approval to refinance via share placements totalling 19.9 billion yuan ($2.8 billion), in a sign of the regulatory effort to improve liquidity in the embattled sector.
HONG KONG : Four more property developers listed in mainland China said they have received approval to refinance via share placements totalling 19.9 billion yuan , in a sign of the regulatory effort to improve liquidity in the embattled sector.
Policymakers introduced extensive measures in November to boost liquidity and stabilise the sector, but market confidence remains weak and defaults have continued. State-owned China Merchants Shekou Industrial Zone was the first to receive such approval on June 16. The four other companies which got a greenlight on Tuesday were Shanghai-listed Poly Developments and Holdings and Greattown Holdings, and Shenzhen-listed Hubei Fuxing Science and Technology Co and CCCG Real Estate.
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