News Snapshot:
Beijing [China], August 14 (ANI): 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...
