Some of China's major property developers are planning to issue asset-backed securities in the near term, a further sign that regulators are marginally broadening financial channels for developers amid Evergrande's debt crisis.
, wrestling with debts of more than $300 billion, said on Friday that there was "no guarantee" it would have enough funds to meet debt repayments, prompting the country's top financial regulators to calm the market.
"As an innovative financing tool, supply chain ABS products can support upstream suppliers' financing and ease financing difficulties for small and medium firms," the company said in a statement on its official WeChat account.Four other developers, including Huafa Industrial and Greentown China, have received regulatory feedback on their plans to issue ABS totalling nearly 16 billion yuan , the Shanghai Stock Exchange disclosed on Dec.3.
China's property market, which accounts for a quarter of gross domestic product by some metrics, has been cooling sharply since May with sentiment shaken by intensifying liquidity stress that has engulfed some of the country's most indebted developers.
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