Real estate crisis in China can inflict bigger economic blow: Report NewsExplorer


Source: newsexplorer.net newsexplorer.net

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Photo: Bloomberg The real estate slump in China has sucked in both banks and provincial governments, threatening a bigger impact on the world's second-largest economy, according to media report. According to Nikkei Asia, defaults have soared over the past 12 months after property developers' debt-fueled growth model lurched into reverse. Around 99 defaults on domestic debt occurred in the year including delayed payments, according to Shanghai-based Wind Information. It is to be noted that China's factory-gate inflation in July reached the lowest since February last year, according to the National Bureau of Statistics. The country's producer price index, which gauges...