Chinese developer Greentown's chairman Song Weiping dismissed a rumor of bankruptcy on Wednesday, calling it a "dry humor."

"For Greentown, although the rumors (of bankruptcy) have made us a little uneasy, we do believe that at such a moment it is necessary to look beyond ourselves at the whole industry," Song Weiping said in a statement posted on the company's website, "Those suffering from the current harsh regulations on the real estate sector are not one company but the whole industry."

News has been spreading online since Tuesday that the Zhejiang-based Greentown was filing an application for bankruptcy "for reasons with links to capital constraints and usurious loan." There are also rumors that Song gambled away 2 billion yuan in Macaw.

The company registered contract sales of 404 units, with total value of 1.7 billion yuan, lower than that in August.

The decline in sales could be blamed to Song's statement in September that it was "irresponsible" to cut prices for sales pormotion, and any reduction would lead to further declines and eventually the company's withdrawal from the industry.

In its latest filing, however, Greentown began promoting some of its projects, which also prompted suspicions of the disruptions of its capital chain.

"We could still stakes in some projects to resolve the funding problem," Song said in the statement, "Besides, Greentown is not without a responding scheme."

With a sound underpinning, Greentown is unlikely to go bankruptcy, at least for now, Gao Renhang, a property analyst said. However, chances for a bankruptcy could not be ruled out if the company insists on a high price tag for its projects.

As measures to rein in the bubbly real-estate sector remain tight, Chinese developers will find it a tough time before the year end, according to Gao.

Yet mounting anticipations on readjustments in next year’s marco economic policies have also offered a ray of hope for those developers, he said.