In the past half month, 4 central state-owned enterprise developers have announced financing plans with a total scale exceeding 13 billion yuan

Journalists have found that since October 8, China Overseas Land & Investment, CHINA RES LAND, PDH, and Huafa Properties have successively announced financing plans, with a cumulative scale exceeding 13 billion yuan. Many companies mentioned in their fundraising announcements that the raised funds will strictly adhere to special account supervision and entrusted payment principles, and must not be used for land payments, mergers and acquisitions, "land king" projects, and development in third and fourth-tier cities. Huafa Properties further clarified that 3.6 billion yuan of idle raised funds will only be used to temporarily supplement the working capital of its main business and must be adjusted in a timely manner when project needs arise. Behind this wave of financing is a deep adjustment of the industry's financing structure. According to CRIC data, from January to September, the cumulative financing total of 65 typical real estate companies was 317.15 billion yuan, a year-on-year decrease of 28%. In terms of financing structure, domestic debt financing for real estate companies in September was 27.123 billion yuan, a month-on-month increase of 5.6%, but a year-on-year decrease of 39.9%