Dollar bonds of Central China Real Estate (CCRE) rallied over 8-16% yesterday after the company’s parent Jianye Group said it signed an RMB 10bn ($1.6bn) strategic cooperation agreement with Zhongyuan Bank, a regional bank in central Henan province. Blomberg notes that as per CCRE’s official Wechat account, CCRE said that it has signed a strategic cooperation pact with the bank to establish a long-term strategic partnership across areas like residential buildings, property management services, construction, cultural tourism, capital markets, cash management and personal finance.

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