SSE to support needs of property developers

The Shanghai Stock Exchange (SSE) will support the reasonable financing demand as well as merger and acquisition needs raised by property developers of different ownership systems, the exchange said on Thursday.

Such comments were made during a recently held symposium with eight real estate companies with operations in Shanghai, such as Poly Developments and Holdings Group Co Ltd and Huafa Properties, and the two sponsors - Shenwan Hongyuan Securities and Sinolink Securities, according to the SSE.

The financing environment has gradually improved amid the real estate supportive policies introduced over the past few months, said real estate companies participating in the symposium. As positive factors are accumulating and the scale of the real estate market remains stable, property developers are actively exploring new development models.

But difficulties lying in property developers' operation, investment and financing should not be overlooked, said the exchange.

Therefore, real estate companies put forward suggestions and demands on equity financing and bond issuance at the symposium.

All these requires better implementation of the previously introduced supportive policies, according to the SSE.

The Shanghai bourse will thus strengthen coordination with all parties to provide unbiased support to meet the reasonable financing and M&A needs of real estate enterprises of different ownership systems.

This symposium is part of the SSE's efforts to address the tasks mentioned during the Central Financial Work Conference held in late October, said the exchange.

The Shanghai bourse will aim to improve the quality, resolve risks, and implement the relevant policy arrangements for supporting the planning and construction of affordable housing. Continued efforts will be made to advance the transformation of urban villages and the construction of major infrastructure projects, it added.

shijing@chinadaily.com.cn