Lee Duna@lemmy.nz to

World News@lemmy.worldEnglish · 11 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

Lee Duna@lemmy.nz to

World News@lemmy.worldEnglish · 11 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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The Snark Urge@lemmy.world
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11 months ago
Sure, to some of that - but China’s real estate market is simply vast, at one estimate over 50 trillion dollars’ worth - and individual wealth in China is heavily tied to RE. If that bubble pops, it’s not just the investors who will be up in arms.

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