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China developers’ finances have improved: Moody’s

Posted on 01 August 2012

China’s property developers have seen their finances improve due to better housing sales in recent months, but the gains have been uneven and the negative outlook for the sector remains unchanged, said a senior executive at credit-ratings firm Moody’s Investors Service.
Beijing has been more supportive of first-time home buyers since early this year amid efforts to push prices lower and curb speculation while supporting genuine housing demand. Some property developers, especially larger ones that focus on housing projects with smaller apartment units catering to first-time buyers, have seen sales rise and have resumed purchasing land after waiting on the sidelines since late last year………………………………………..Full Article: Source


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