Chinese banks’ half-truths hinder mortgage fix, says ywchen1
Men work at a construction site of apartment buildings in Beijing, China, July 15, 2022. REUTERS/Thomas Peterspotlights the problem with Chinese banks' half-truths about asset quality. Seventeen banks say homebuyers' refusal to pay instalments warrants little concern, but the unfolding pain might double the already underreported bad debt ratio. Coming clean on the mess in a big and traditional safe part of the loan book is a prerequisite to stemming systemic risk.
Lenders, from the big four to smaller city ones, are downplaying the impact. Take the country’s king of retail banking, $140 billion China Merchants Bank
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