World NewsEnglish • 10 months ago

China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

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China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

World NewsEnglish • 10 months ago

2,100 banks could be affected as China looks to curb the bad loan environment of its rural communities, Bloomberg reported.

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@hark
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1•10 months ago
70% of China’s GDP is powered by its real estate market?! Do you have a source on that? This says it’s about 20-30% https://www.axios.com/2023/10/11/chart-chinas-real-estate-struggles

which funnily enough, sounds about what it is for Canada, which I could see also imploding from its over-reliance on real estate.

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