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China debt crunch

China to support debt issuance for distressed real estate buyouts

Authorities seek to jump start stalled home construction as Evergrande teeters

A man works at the construction site of a high-rise building in Beijing.   © Reuters

SHANGHAI -- Chinese regulators will allow property developers to issue debt to fund acquisitions of real estate projects in bid to aid struggling players like China Evergrande Group.

The National Association of Financial Market Institutional Investors held a meeting Friday with representatives from real estate companies, the state-run Securities Times reported. The self-regulatory body said it will register on a priority basis the issuance of corporate bonds to fund the purchase of housing development projects or the construction of housing that has already been sold, the newspaper reported.

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