SHANGHAI, (Reuters) – Three Chinese developers including Country Garden Holdings Co’s main platforms and Longfor Group Holdings Ltd plan to issue bonds in China to raise a total of 18 billion yuan ($2.83billion), according to the official registration system. This is evidence Beijing has begun to ease liquidity pressures on this cash-strapped sector.

China tightened its financing restrictions on the real-estate industry in China early in this year. This exacerbated financial difficulties at China Evergrande Group, an indebted developer. It also triggered sector-wide liquidity stress. Some feared that it could lead to economic instability.

Recently, there has been evidence that certain financing channels have been slightly relaxed for developers in recent weeks.

Country Garden Holdings controls Country Garden Real Estate Group and plans to issue medium term notes in the amount of 5 billion Yuan, according to China’s Interbank Debt Market filings.

Chongqing Longhu Enterprise Development Co plans to issue three billion Yuan in debt.

The registration filing also indicates that China Overseas Enterprise Development Group Co (state-owned developer) plans to issue three tranches worth 10 billion yuan.

Other signs of life have also been seen in the domestic bond markets for developers. Official China Securities Journal reports that corporate bonds issued by real-estate companies almost tripled their previous month’s November volume to 37.1 billion Yuan.

Also, there are signs that marginal lending is being relaxed. Sources told Reuters that Reuters had received information last month from Chinese financial regulators that they wanted to increase the amount of loans issued to property companies for development projects.

However, Chinese authorities are not indicating that they will ease the “three redlines” financial conditions that the central bank imposed last year on developers in order to obtain new bank loans. Analysts predict that Beijing will keep its anti-developer deleveraging campaign despite policy adjustments.

($1 = 6.3673 renminbi)