Regulatory body targets developer financing
Updated: 2013-09-05 17:29
By WU YIYAO in Shanghai (chinadailycom.cn)
China Securities Regulatory Commission may introduce detailed regulations for realty developers' refinancing programs, the Shanghai Securities News reported on Thursday.
Several developers' proposals for the programs were suspended by the CSRC which requires developers to submit their proposals after the detailed regulations were introduced.
Sources said the detailed regulations on refinancing programs might not be circulated publicly. Instead, they will be circulated as an internal guide, according to the report.
More than 16 developers revealed their proposals for targeted additional shares issuance with combined proposed funding of more than 53 billion yuan ($8.66 billion).