Chinese Banks Hold Emergency Meeting with Banks on Mortgage Crisis
Meanwhile, China's economic growth decreased to 0.4% over a year earlier in the latest quarter.
An emergency meeting was held this week with China’s Ministry of Housing and Urban-Rural Development, financial regulators, and major banks to discuss apparent client mortgage boycotts, according to a media report. Meanwhile, China's economic growth decreased to 0.4% over a year earlier in the latest quarter.
Chinese authorities hold emergency meetings with banks after growing alarmed that an increasing number of homebuyers across the country are refusing to pay mortgages on stalled projects https://t.co/U9WWpX5zMh
— Bloomberg (@business) July 14, 2022
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(The above story first appeared on LatestLY on Jul 14, 2022 12:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
