What's in a Chinese Sausage?
Residential apartment buildings stand in the Futian district of Shenzhen, China. (Photographer: Qilai Shen/Bloomberg)

What's in a Chinese Sausage?

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(Bloomberg Gadfly) -- Debt-laden Chinese real-estate developers struggling to raise capital have a new way to go "asset-light" -- selling asset-backed securities based on rents.
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