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<Research>CLSA: CHINA VANKE (02202.HK) Bond Extension Negatively Impacts Sector Sentiment
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CHINA VANKE (02202.HK) reportedly applied to delay the repayment of RMB2 billion in medium-term notes due next month, with the plan requiring approval from bondholders, CLSA published a research report saying. Previously, there were reports that the central government initially guided the Shenzhen municipal government to handle CHINA VANKE's debt issues in a 'market-oriented approach.' CLSA believed that this reflects a potential weakening of government support. If the property market continues to decline, defaults and restructurings of developers' debts may become unavoidable. This incident is expected to negatively impact sentiment in China's real estate sector. However, CLSA added that investors' projections for central government support measures, such as mortgage subsidies, also decreased. Therefore, if any stimulus policies are unexpectedly introduced in the future, they could serve as potential positive factors. AASTOCKS Financial News Website: www.aastocks.com |
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