The fundraising rush comes as Beijing encourages state companies to acquire projects from cash-strapped developers to help ease severe liquidity stress on the sector that could threaten financial and social stability.
China Resources Land and a subsidiary entered into strategic cooperation with China Merchants Bank, which will fund the developer's acquisition businesses, the company said in a statement.
C&D Real Estate Corp Ltd and China Merchants Shekou Industrial Zone Holdings Co said in separate statements that they raised 1 billion yuan, and 1.29 billion yuan, respectively, through bond sales to fund purchases of real estate projects.
A slew of Chinese developers, including China Evergrande Group and Kaisa Group have defaulted over the past months, as they struggle to repay debts after Beijing launched a deleveraging campaign for the bloated sector.
State-owned property firms are expected to acquire more assets from private developers, analysts said, as Beijing steps up efforts to stabilise and tighten control over a crisis-hit sector that accounts for a quarter of its economy.
($1 = 6.3187 Chinese yuan renminbi)
(Reporting by Shanghai Newsroom; Editing by Kim Coghill)
