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Is China ripe for a subprime crisis? Regulator sees bank property loans as ‘biggest grey rhino risk’ for financial system

Summary:
[unable to retrieve full-text content]Chinese banks’ excessive exposure to property is now the “biggest grey rhino risk” facing the stability of the financial system, a top financial regulator has warned.Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Communist Party chief of the People’s Bank of China (PBOC), wrote recently steps must be taken to avoid “bubbles” in the real estate sector because “among the 130 financial crises since the start of 20th century, more than 100 of them are related to…

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[unable to retrieve full-text content]
Chinese banks’ excessive exposure to property is now the “biggest grey rhino risk” facing the stability of the financial system, a top financial regulator has warned.Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Communist Party chief of the People’s Bank of China (PBOC), wrote recently steps must be taken to avoid “bubbles” in the real estate sector because “among the 130 financial crises since the start of 20th century, more than 100 of them are related to…

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