Dollar bonds of Chinese property developers like Country Garden, CIFI Holdings and Seazen topped the gainers list yesterday. While Country Garden had reported a 96% drop in its 1H 2022 profits, it also announced that it planned to issue RMB 5bn ($724.3mn) in state-backed guaranteed notes this year. CIFI and Seazen have also planned issuances of these notes backed by China Bond Insurance Co. This positive update was announced a week ago and the impact of it continues to be seen in the dollar bonds developers that decide to raise money via these bonds.

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