Bloomberg: “Chinese banks face losses of up to 2.4 trillion yuan in the real estate crisis.”


Bloomberg News reported on the 1st that Chinese banks will face a loss of 2.4 trillion yuan in real estate mortgage loans in the worst case scenario due to the real estate market crisis.

Bloomberg reported in an online article that day,

“Major real estate companies are on the verge of bankruptcy due to the long-term crackdown on speculation by the Chinese authorities’The financial crisis following the rejection of mortgage repayment by buyers will cause astronomical losses,’ he analyzed.

In a related development, international credit rating agency Standard & Poor’s Global Ratings also pointed out that 2.4 trillion yuan (6.4% of all mortgage loans) was at risk.

Deutsche Bank also warned that at least 7% of housing loans are at risk.

The situation has already caused mortgage repayment rejection in more than 90 cities,

and attention is now being paid to how it will hurt the $56 trillion Chinese banking system.

Bloomberg: “Chinese banks face losses of up to 2.4 trillion yuan…

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