Wednesday, February 26, 2020

Strong sales mean yuan depreciation is not a problem for Chin…

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Most Chinese property developers could withstand anything up to a 10 per cent depreciation in the yuan, because resilient sales will offset the cost of foreign debts, according to Moody’s Investors Service.While home sales improved in the past two months in mainland China, not many developers were issuing bonds because of tighter regulatory scrutiny, according to the rating agency.The offshore Chinese yuan has weakened 3.7 per cent against the US dollar so far this year, the second-worst…

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