There is a bet currently that the Chinese property sector is going to recover this year.
Souce FT:
"Chinese property developer Dalian Wanda’s second dollar bond sale in less than a month was quickly oversubscribed on Monday, pointing to a renewed hunger from global finance after years of concern about the financial health of China’s highly indebted real estate groups.The sale of a three-year US dollar bond by Wanda received orders worth around $500mn, according to two people familiar with the deal, who said the developer had planned to raise as much as $300mn from the offering. Investment bankers in the region say foreign investor appetite has returned as Beijing seeks to bolster the hard-hit sector."
But its not just limited to property, but also shipbuilding, other construction and industrial projects.
Demand should pick up in 2023, even with a U.S. recession.
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