China halts real estate repeat funding, reshuffling

Updated: 2010-11-26 15:31

By Gao Yuan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China has tightened controls over requests for additional funding from property developers, China Securities Journal reported Friday.

China halts real estate repeat funding, reshufflingShanghai to boost its M&A market
Related readings:
China halts real estate repeat funding, reshuffling Property measures inspection launched
China halts real estate repeat funding, reshuffling First-time buyers are set to rejoin property game
China halts real estate repeat funding, reshuffling China's trust firms halt property loans: Report
China halts real estate repeat funding, reshuffling Property market set to make soft landing
Among several investment banks the newspaper interviewed, all of the property developers' requests for another round of funding have been denied, the report said, although authorities have not confirmed the approvals have been halted.

In addition, Zhuang Yixin, vice-chairman of the China Securities Regulatory Commission (CSRC), told Shanghai Securities News that restructuring of real estate enterprises have also been paused.

Real estate developers have to get approval from the Ministry of Land and Resources (MLR) before reorganization. Zhuang said that CSRC and MLR are jointly examining the restructuring requests from professional and policy perspectives.

Not a single reorganization has been permitted since the start of this year, the report said.

Paper's Digest

Chinese jet takes on Big 2

First large commercial plane set to ride on demand for aircraft as economy grows.

Super-CPU only for domestic eyes

European Edition

Specials

Chinese jet takes on Big 2

First large commercial plane set to ride on demand for aircraft as economy grows.

Gaining ground

Doing business in china for westerners has come a long way, Peter batey says.

Safeguarding environment a priority

China continues to face mounting pressure to curb environmental degradation, despite progress in reducing pollution over the last five years, the environmental protection minister warned.

Mounting inflation pressure tests policy makers
Chinese vice president to visit four nations
Chinese, Russian presidents meet in Seoul on co-op