Following on the point made by Marc Chandler in the post immediately below:
Meanwhile, reports suggest Chinese officials are considering additional measures to help the property sector....
From Singapore's The Straits Times, January 4:
BEIJING - The Chinese authorities are planning to bring in more support measures to ease liquidity stress at some of the country’s too-big-to-fail developers as the property downturn persists, according to people familiar with the matter.
The Financial Stability and Development Committee (FSDC) told the banking and securities regulators late last week to help shore up the balance sheets of some “systemically important” developers, said the people. In order to be eligible, firms need to receive “unqualified” auditing reviews to show they have reliable financial statements and have no record of major violations, including defaulting on publicly issued debt, they added.
Financial institutions and regulators could draw up new lists of so-called quality developers based on the criteria and their own compliance requirements, according to the people. The aid could range from providing equity financing and loans, to allowing the creation of real estate investment trusts and spurring acquisitions....
....MUCH MORE
