China Resources and 2 other state developers secure funding for acquisitions

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SHANGHAI : China Resources Land Ltd secured 23 billion yuan ($3.64 billion) in credit lines for real estate acquisitions on Wednesday, while two other state-owned developers completed bond sales worth 2.29 billion yuan for the same purpose. The fundraising rush comes as Beijing encourages state companies

SHANGHAI : China Resources Land Ltd secured 23 billion yuan in credit lines for real estate acquisitions on Wednesday, while two other state-owned developers completed bond sales worth 2.29 billion yuan for the same purpose.

China Resources Land and a subsidiary entered into strategic cooperation with China Merchants Bank, which will fund the developer's acquisition businesses, the company said in a statement.

 

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