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China's housing crisis strikes again

To push sales, real estate developers are cutting prices but the Chinese government is penalising those who are announcing sharp cuts for fear of it disturbing the market and spreading the crisis to banks

China's housing crisis strikes again

Highlights Defaults in China’s housing market are back  Sales of previously owned homes in China’s largest cities show double-digit declines in April Chinese real estate giant KWG Property defaults on multiple loans Wanda Group, one of China’s oldest and largest real estate giants, is rumoured to be at risk for a debt meltdown.  Property bonds and loans trading at distressed prices exceed $190 billion globally, the most this year   The Chinese government had taken multiple steps to control the slide in its real estate sector....

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