(Bloomberg) -- Chinese property developers are setting the onshore bond market on fire as cheaper funding costs lure them in droves amid easing measures by the authorities. Domestic bond issuance by builders surged to 93 billion yuan ($14 billion) in January, while about 7.3 billion yuan worth of notes are set to be sold this week, according to data compiled by Bloomberg. Investors are buying the debt amid bets that builders' credit profile will steadily improve as cheaper financing conditions help them beef up their balance sheets, said Lv Pin, a bond analyst at Citic Securities Co.
--With assistance from Helen Sun.
To contact the reporters on this story: Narae Kim in Hong Kong at nkim132@bloomberg.net;Xize Kang in Beijing at xkang7@bloomberg.net;Qingqi She in Shanghai at qshe@bloomberg.net
To contact the editors responsible for this story: Neha D'silva at ndsilva1@bloomberg.net, Chan Tien Hin, Matt Turner
©2019 Bloomberg L.P.
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