Banking Giants Are Mortgaging China’s Future
Lending for real-estate purchases in China is still on the up: Recently published accounts show mortgage credit making up an ever-larger share of total loan books at three of the country’s four largest banks. Having their fortunes so tightly tied to the health of the property market is a challenge not just for the banks but for China’s entire development model, given that household debt has hit levels that other Asian success stories didn’t reach until far later in their development.
Tags : INTERNATIONAL