CSRC issued guidance directing capital markets to serve as the primary channel supporting a new real estate development model. It backs M&A and restructuring by listed real estate developers, allowing them to acquire property-related assets using shares, targeted convertible bonds and cash. Where assets are bought via share issuance or targeted convertible bonds, issuers may raise accompanying funds to finance policy-compliant property projects and to pay transaction consideration. Listed firms

CSRC issued guidance directing capital markets to serve as the primary channel supporting a new real estate development model. It backs M&A and restructuring by listed real estate developers, allowing them to acquire property-related assets using shares, targeted convertible bonds and cash. Where assets are bought via share issuance or targeted convertible bonds, issuers may raise accompanying funds to finance policy-compliant property projects and to pay transaction consideration. Listed firms in construction and other industries closely linked to real estate should follow the same rules.