金融英语：Developers keen to diversify financing options
In the face of restrictive government credit policies, representatives from property developers and financial institutions met over the weekend to discuss options for financing future property developments."Securing developers' capital strength" was one of the major themes of the 6th China Real Estate and Finance Forum, co-organized by China Minsheng Bank and New Real Estate Institution.
Nearly a thousand representatives from the real estate and financial sectors attended the forum.
"In consideration of tight government credit policies, developers need to diversify their financing channels next year," Yang Yu, president of China Minsheng Bank's real estate department said at the forum.
The country's central bank raised financial institutions' reserve requirements by 0.5 percent for the second time this month demonstrating the government's determination in curbing inflation and inevitably tightening the capital resources of real estate developers.
In a sign of unity at the forum, developers expressed mutual concerns over financing pressures.
"Developers next year might face the risk of capital strain caused by a series of suppressing policies," said Liu Xiaoguang, general manager at Beijing Capital Group, a State-owned developer.
Liu also detailed seven financing channels including cooperating with private equity firms and issuing bonds overseas.
And Sun Yin, chairman with Titan Real Estate also said at the forum that ongoing policies have put strained developer resources.
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