NEW YORK: China's real estate sector will likely see"significant easing" in the policies that govern it, BNP Paribas Asset Management said, months after starting to build a long position in that sector's debt.
The CSI China Mainland Real Estate Index fell as much as 28 per cent last year before closing down 15 per cent, with stocks in China Evergrande, one of the biggest developers in the midst of a restructuring, down 89 per cent in 2021. Some international investors expect state-owned enterprises to help smooth debt restructurings, but others worry that it could open the door for Beijing to use the limited returns to pay its local debts first.
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