SHANGHAI: China’s securities regulator has been instructed to curb access to bond and H-share financing by real estate firms, online financial magazine Caixin reported on Tuesday, citing sources.
H-shares are Hong Kong-traded stocks issued by companies registered in mainland China.
China’s main economic planner has also been instructed to curb bond issuance approvals by real estate firms, Caixin said.
Caixin’s report comes amid increasing signs of a crackdown on China’s bubbly real estate market. Multiple industry sources told Reuters last week that bond issuance by real estate firms on public exchanges has become far more difficult recently, as policymakers worry about high housing and land prices.
The China Securities Regulatory Commission did not respond to faxed and emailed requests for comment, and multiple calls went unanswered.
(Reporting by Nathaniel Taplin and Shanghai Newsroom; Editing by Jacqueline Wong)
Source: Reuters