Comment: Chinas high -yield US dollar debt index rose to more than two years of

Source: Bloomberg

As the Chinese government successively launched a new round of stabilizing the property market, China's garbage -level US dollar bond prices have risen to a new high in more than two years.

Bloomberg this week's index that followed China ’s high -yield US dollar bonds rose 2.1 cents, towards the highest level since September 2021, and created the largest weekly increase in seven months.

A number of housing companies with liquidity underwriting rose after Hong Kong resumed in Hong Kong on Thursday. Among them, Vanke's 2027 US dollar bonds were purchased at 62.89 cents per 1 dollar face value, up approximately 5.9 cents.Since March this year, several rating agencies have lowered Vanke's credit rating to garbage level.

As the economic recovery is weak, China is taking a lot of measures to help housing companies that are in trouble.According to Bloomberg reports on Wednesday, the State Council is initially considering the collection and storage of local governments. The plan is reported that state -owned banks are required to provide loan funds and support local state -owned enterprises to acquire unlimited homes from developers who are trapped at a large discount price.

"Government policy is developing in the correct direction, and we may see the dawn next year," said Ting Meng, a senior credit strategist at Australia and New Bank."If these policies come earlier, the effect will be better."

The Housing and Urban -Rural Development Bureau of Lin'an District, Hangzhou issued an announcement on Tuesday, deciding to acquire a number of commercial housing within Lin'an District for public rental housing.In addition, cities such as Hangzhou and Xi'an have successively canceled housing purchase restriction measures.Beijing also allows residents' families to buy a new house outside the Wuhuan to respond to the latest measures for the landslide of the property market in first -tier cities.

Real estate stocks also rose on Thursday. The Bloomberg industry research on the Chinese real estate index once rose more than 12%. Among them, the farmer's farm company Yuanyang Group rose 46%, Shimao Group rose 32%, and the increase was leading other ingredients stocks.

However, some of the large -scale housing companies that have issued dangerous housing companies are still sluggish. Most of the price of Country Garden and Heng's bonds that have previously occurred in foreign debt defaults are still less than 10 cents.