A dollar bond of defaulted Yango Group due 2023 rose 1.787 cents on the dollar to 2.712 in early trade, according to data from Duration Finance. Powerlong Real Estate's April 2025 bond was traded at 9.275 cents, 3.055 cents higher than Friday. Their bonds also surged onshore.
Jefferies estimated the package, together with other recent policies, would inject around 1.3 trillion yuan credit into the property sector, largely covering private developers' public bonds and trust products due to mature by end-2023.widen a programme China's property sector has slowed sharply this year as the government sought to restrict excessive borrowing by developers.
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