Regulators curb developer fundraising

China’s securities regulators are taking new measures to clamp down on efforts by real estate companies to raise cash amid continuing efforts to cool the nationwide property frenzy, Caixin reports. Developers have been prohibited from issuing bonds and listing on the Hong Kong Stock Exchange, according to sources close to the China Securities Regulatory Commission and the National Development and Reform Commission— China’s top economic planner, which also approves the issuance of enterprise bonds. Specifically, the two government bodies will no longer approve requests from property firms to issue bonds at home or overseas, according to sources. Tapping the Hong Kong stock market for funds will also be out of the question because the CSRC will reject an IPO plan if it’s filed by a real estate company, sources said.