good

 Well payback is a  bitch....... in the world of finance  .....greedy bastards  is all i can see......... so far  ..........their greed......  but they will find  another  way  to  falsify and  get money......... they always do.....they are highly dishonest ....unethical ...snide ....underhanded ....... and  all they care about .....is money  ........fact  ...they even  have a  god of  money ..........its all that matters  to the  chinese .........if it did'nt ..........then why do they have a god of money ......hmmmmm!!!!

China Banks May Face $350 Billion in Losses From Property Crisis

(Bloomberg) -- China’s banks face mortgage losses of $350 billion in a worst-case scenario as confidence plunges in the nation’s property market and authorities struggle to contain deepening turmoil.

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A spiraling crisis of stalled projects has dented the confidence of hundreds of thousands of homebuyers, triggering a mortgage boycott across more than 90 cities and warnings of broader systemic risks. The big question now is not if, but how much it will batter the nation’s $56 trillion banking system.

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In a worst-case scenario, S&P Global Ratings estimated that 2.4 trillion yuan ($356 billion), or 6.4% of mortgages, are at risk while Deutsche Bank AG is warning that at least 7% of home loans are in danger. So far, listed banks have reported just 2.1 billion yuan in delinquent mortgages as directly affected by the boycotts.

“Banks are caught in the middle,” said Zhiwu Chen, a professor of finance at the University of Hong Kong Business School. “If they don’t help the developers finish the projects, they would end up losing much more. If they do, that of course would make the government happy, but they add more to their exposure to delayed real estate projects.”

Already rattled by headwinds from slowing economic growth, Covid disruptions and record high youth unemployment, Beijing is placing financial and social stability at the top of its priorities. Efforts that have been contemplated so far included a grace period on mortgage payments and a central bank-backed





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