Part of what makes China’s financial industry daunting is its size. Banking assets have ballooned to about $50trn and they sit alongside a large, Byzantine system of shadow finance. Total credit extended to firms and households has soared from 178% ofa decade ago to 287% today. The industry suffers from opacity, a lack of market signals and the erratic application of rules. Property is part of the problem.
With an illiquid portfolio of property projects financed by $300bn of liabilities, 80% of them short-term, Evergrande has a huge liquidity mismatch. It has struggled to cope with new government rules designed to curb excessive borrowing in the real-estate industry but which may now have backfired.and Citigroup.
At least Xi is doing something to avoid the same in the US.
Trương Tú Uyên :) :D
Evergrande's evidencia una profubda crisis economica y falta de liquidez a nivel global, la mas grande inmobiliaria de todo el mundo esta en quiebra tecnica y no creo se salve a menos que China no tenga mas alternativa que intervenir, sea quedandose con esta empresa
The global banks backed fully, or in-part, by Wall Street can lose their shirts for all I care. I want them to have their own personal 2008.
wow
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