China suspends some developers’ bond sales to rein in risks
A Chinese regulator has suspended bond issuance from some of the nation’s developers in a bid to curb excessive fundraising by the sector, according to people familiar with the matter.
The National Association of Financial Market Institutional Investors, a unit under China’s central bank, has since last week halted some builders’ debt sales via window guidance, said the people, who are not authorized to speak publicly and asked not to be identified.
NAFMII regulates short-term commercial paper, medium-term notes, and private placement bonds in China’s interbank market. The regulator declined to comment.