China’s rich keep faith with beleaguered builders
The affluent have piled in as developers sold a record $26bn in US dollar bonds in the first quarter
25 May 2020 - 17:24
Hong Kong — When China’s largest residential property developer raised money in May, a third of interest came from banks that service the wealthy, a group keeping faith with the nation’s beleaguered builders even as other investors flee.
The affluent in Hong Kong and the mainland have piled in as Chinese developers sold a record $26bn in US dollar bonds in the first quarter and $1bn since, brushing aside concerns that pushed junk-bond yields to an eight-year high in March...
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