China urges banks to avoid housing speculation to curb Evergrande risk

Beijing (AFP) Sept 30, 2021

China has urged banks to steady the housing market and avoid speculation as fears mount that Evergrande's debt crisis could spill over into the property sector. Saddled with more than $300 billion in liabilities that it is struggling to repay, the Chinese property developer's potential collapse poses systemic risks for the national and global economy. At a Wednesday meeting, the People's