Featured Research

Corporate Bond Market Review - May 2025

Diverging Credit Dynamics: Strength in Bank Issuance, Stress in Property Bonds
12/06/2025
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Residential Real Estate Sector - Q1/2025 Update

Project development to accelerate on supportive policy backdrop, primarily bank-financed
29/05/2025
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Banking Sector - 3M2025 Update

Liquidity tightens as asset quality weakens in mid-sized and state-owned banks
27/05/2025
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Banking Sector - Foreign Ownership Limit

Higher foreign ownership in banks will support banks’ pursuit of strong business growth
21/05/2025
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Non-Financial Institution Corporates: Bond Issuance in 2025

Tariff risks loom over business expansion, refinancing to dominate new bond issuances
13/05/2025
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Research Reports

Showing   / 13 reports
Topic Sector Title Research date Read more
Sector Peer Review
Residential Real Estate

Residential Real Estate Sector - Sector Peer Review

Key Credit Metrics
12/06/2025 View report
Sector Comment
Residential Real Estate

Residential Real Estate Sector - Q1/2025 Update

Project development to accelerate on supportive policy backdrop, primarily bank-financed
29/05/2025 View report
Sector Comment
Residential Real Estate

Residential Real Estate Sector - FY2024 Update

Improving business conditions boosted developer sales and cash flow in 2H, but not enough to offset 1H operating losses
06/03/2025 View report
Sector Outlook
Residential Real Estate

Residential Property Sector - 2025 Outlook

Outlook improving from stronger housing supply and sales; leverage and refinancing difficulties to ease as cash flows return
20/01/2025 View report
Sector Comment
Residential Real Estate

Residential Real Estate Sector - 9M2024 Update

New policies will boost project development in 2025 and beyond; most developers will fall short of 2024 profit targets
28/11/2024 View report
Sector Comment
Residential Real Estate

Residential Real Estate Sector - 1H2024 Update

New housing supply will boost developer cash flows but also increase leverage
23/09/2024 View report
Sector Comment
Residential Real Estate

Residential Property Sector - 2H2024 Outlook

Developer sales will improve as new supply increases and homebuyer demand remains robust, access to financing will alleviate liquidity challenges
08/07/2024 View report
Issuer Comment
Residential Real Estate

Issuer Comment - Ha An Real Estate Investment and Business JSC

Upcoming equity infusions will reduce Ha An’s refinancing pressure and liquidity risks, a credit positive
10/06/2024 View report
Sector Outlook
Residential Real Estate

Residential Property Sector - 2024 Outlook

Outlook improving from stronger homebuyer sentiment and project sales, risks from high leverage mitigated by broader funding access
20/03/2024 View report
Sector Comment
Residential Real Estate

Residential Property Sector: New real estate laws amendment 2024

New real estate laws will pave the way for quicker and prudent development of new housing projects, positive for developers’ credit profiles and sustainable growth of the housing market
22/01/2024 View report
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