HONG KONG -- China's top banking regulator has pledged to back a bid to speed up completion of hundreds of unfinished housing projects nationwide, after tens of thousands of homebuyers threatened to stop paying their mortgages in protest.
China debt crunch
Chinese authorities move to calm 'mortgage strike' nerves
Homebuyers threaten to stop paying mortgages to protest unfinished projects
Some residential projects in China are running years behind schedule as top developers grapple with huge debt loads and financing problems. (Photo by Yusuke Hinata)
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