Southeast Asia Information Port (www.dnyxxg.com) – China's real estate companies' bond financing has maintained year-on-year growth for three consecutive months.
A report released on July 7 by the China Index Academy shows that in July 2025, the total bond financing amount for China's real estate industry reached 71.39 billion yuan (RMB), a year-on-year increase of 90.3%. Since May of this year, the total monthly bond financing amount for real estate companies has maintained positive year-on-year growth.
In terms of financing structure, the report shows that in July, real estate companies' corporate bond financing reached 45.65 billion yuan, a significant year-on-year increase of 104.8%, accounting for 64% of all bond financing for real estate companies; ABS (asset-backed securities) financing reached 25.74 billion yuan, a year-on-year increase of 90%, accounting for 36%. In July, the average interest rate for real estate companies' bond financing was 2.54%, a year-on-year decrease of 0.24 percentage points and a month-on-month decrease of 0.51 percentage points.
From a corporate perspective, statistics show that in July, real estate companies such as China Jinmao, Poly Developments, and China Resources Land issued over 3 billion yuan in corporate bonds, while Shoukai Real Estate, Jianfa Group, Suzhou High-tech Zone, and Joy City issued over 2 billion yuan. Binjiang, Xincheng, and Jinhui also successfully issued corporate bonds. Notably, the corporate bonds issued by these real estate companies have relatively long maturities; Greentown, Xincheng, and Jinhui all issued bonds with maturities of over three years. The inflow of long-term funds helps companies extend their debt maturity structure.
Commercial real estate mortgage-backed securities/notes were the largest type of asset securitization product issued by real estate companies that month, followed by REITs (Real Estate Investment Trusts) and supply chain ABS. In the same month, the second phase of the Shenzhen Anju rental housing asset-backed special plan (Shenzhen Anju REITs Phase II project) was successfully established, with an issuance scale of 3.876 billion yuan.
In the same month, several real estate companies disclosed the latest progress in debt restructuring. Among them, the overseas debt restructuring plans of Times China and Shimao Group were approved, and 21 domestic debt restructuring proposals of Logan Group were passed. According to China Index Academy statistics, as of now, debt restructuring plans for more than ten real estate companies have been approved, involving a total debt of approximately one trillion yuan. (End)
