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Chinese banks offload assets amid property crisis
The Sunday Guardian
|September 08, 2024
Amid the downturn in China's property market, regional banks are increasingly selling off non-performing real estate loans despite government efforts to stimulate the housing sector.
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By June 2024, non-performing industrial loans at local banks had reached nearly two billion yuan, a 5 per cent increase from December 2023 and a 78 per cent rise from 2022.
On Wednesday, the Bank of Zhengzhou from Henan province announced a deal to sell assets worth 10 billion yuan (approximately USD 1.4 billion) to an asset management firm, Nikkei Asia reported.
Dit verhaal komt uit de September 08, 2024-editie van The Sunday Guardian.
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