Visible Recovery of China Home Sales Unlikely, CreditSights Says

The transcript discusses the differences between onshore and offshore funding environments, highlighting the challenges faced by Chinese property developers in the offshore dollar bond market. It questions the effectiveness of property easing measures and the potential for market recovery, noting a lack of confidence among homebuyers. The discussion also touches on the stability of investment-grade credit in China and the challenges faced by Evergrande in restructuring its financial situation.

What is one reason why some investment grade issuers prefer the onshore market over the offshore dollar bond market?

• Better recognition for high yield issuers

• Stricter regulations in the onshore market

• Greater liquidity and support from PBOC measures

• Higher interest rates in the onshore market

What is a major challenge in implementing property easing measures in China?

• Lack of government support

• Limited impact on lower tier cities

• High demand for new homes

• Excessive bank profitability

What has been the trend in homebuyers' expectations of home prices over the past year?

• Expectations have increased significantly

• Expectations have fluctuated wildly

• Expectations have remained stable

• Expectations have decreased

How has the investment grade China credit space been affected by the property market issues?

• Significant contagion has occurred

• Rapid growth in new issues

• Minimal contagion has been observed

• Complete market collapse

What is the government's priority regarding Evergrande's unfinished projects?

• Completing unfinished home projects

• Increasing bondholder returns

• Reducing overall debt levels

• Expanding into new markets