"Offshore bond issuance among the rated developers totaled 1.6 billion U.S. dollars in August, down significantly from 7.4 billion dollars in July, and will likely remain low, with only 3.7 billion dollars of offshore bonds set to mature over the remainder of the year," said Cedric Lai, Moody's vice president and senior analyst.
Meanwhile, year-on-year national sales value growth continued to slow to 8 percent in July from 8.9 percent in June and 10.4 percent in May, mainly driven by a 1.3-percent decline in sales volume.
"We expect national property sales growth will continue to slow in the second half amid tight financing conditions and regulatory measures," added Lai.
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