China urges real estate project acquisitions to aid struggling developers -state media

SHANGHAI : China is urging large private and state-owned property companies to acquire real estate projects from troubled developers to reduce risks that mounting debt piles will destabilise the economy, the official China Securities Journal said on Monday.

Over the past months, Chinese regulators have marginally eased funding curbs on the real estate sector, to prevent debt risks spreading from struggling developers including China Evergrande Group and Kaisa Property Holdings. But only the acquisition of real estate projects, rather than acquiring stakes in the struggling developers, would be encouraged, the newspaper said, citing unidentified sources.

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