China News Agency, Shanghai, June 1 (Reporter Jiang Yu) Moody's Investor Services released an analysis report on the 1st that China's real estate industry showed preliminary signs of gradually picking up.
The report said that the decline in China's real estate sales is narrowing, with national contract sales in April only falling by 2.6% year-on-year, a significant improvement from the 12.1% decline in March.
Moody's Assistant Vice President and analyst Chen Zhengliang said: "As the impact of China's new coronary pneumonia epidemic has gradually subsided, the real estate industry has initially recovered, national contract sales have gradually recovered, and the scale of overseas bond issuance is also rising."
The scale of overseas bond issuance of 30 Chinese developers rated by Moody's in May (as of May 25) has rebounded. Three developers issued a total of 944 million US dollars of bonds, much higher than the 87 million US dollars in April. Lower level. Moody's expects that Chinese developers will maintain moderate levels of overseas bond issuance in 2020 and focus on issuers with better credit quality.
In addition, the analysis of the report pointed out that although the refinancing demand of the rated Chinese developers will remain high in the next 12 months, it is expected that most of the rated developers will be able to cope with bonds due before the end of May 2021, including bonds that can be sold back. (Finish)