New CSRC rules govern industry refinancing

BEIJING - New rules from the China Securities Regulatory Commission (CSRC) mean real estate companies will have to seek approval from the Ministry of Land and Resources before refinancing, the China Securities Journal reported on Friday.

Refinancing projects for companies in other industries, including steel, cement, and plate glass, will also have to be approved by the National Development and Reform Commission, the report said.

The rules won't just affect property developers, but also companies that invest in property shares, according to an official close to the information who declined to be named.