China's financial regulators have instructed the country's state-owned asset management companies (AMCs) and nearly 20 banks to help a dozen Chinese real estate developers that are having trouble paying their bills, including purchasing their liabilities, market insiders told Caixin.
Caixin
Chinese banks and bad-debt managers urged to rescue real estate
Builders in falling market struggle to pay creditors as homebuyers shy away
High-rise apartments under construction in Henan Province in 2021. Chinese regulators have told state-owned financial entities to help struggling real estate developers. (Photo by Noriyuki Doi)
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