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 factory-gate prices, increased 4.2 per cent year-on-year in July, following a 6.1 per cent rise from the previous month, China Daily reported citing NBS.Earlier, S & P Global Ratings warned that around 20 per cent of Chinese developers it rates are at risk of insolvency. Chinese government triggered this reversal by imposing tougher ...
from Latest News https://ift.tt/rS3mGMi
via WebMD https://ifttt.com/images/no_image_card.png
ABOUT THE AUTHOR
Hello We are OddThemes, Our name came from the fact that we are UNIQUE. We specialize in designing premium looking fully customizable highly responsive blogger templates. We at OddThemes do carry a philosophy that: Nothing Is Impossible
