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Dollar bonds of higher rated Chinese property developers like COGARD, Seazen and Longfor have risen by 2-4 points over the course of this week. Earlier this month, China was said to be working on a new basket of measures to support the property market. No details regarding these measures are out yet. However, expectations are that regulators are considering reducing the down payment in some non-core neighborhoods of major cities besides lowering agent commissions, thereby relaxing restrictions for residential purchases. Also, there are expectations that the government may further refine and extend some of the policies in its 16-point rescue package.