Regulators need to step up in near term

■ Interbank debt market in China has seen some improvement recently, especially for developers, whom regulators allowed to raise more debt.
■ This is a positive move to us. However, we think that regulators need to step up more in the near term to help developers to get refinancing.
■ Jan 22 is the peak season for developers’ debt repayment.
■ Stay with quality names such as Longfor, CR Land, Vanke, CIFI and KWG.