China’s property sales are set to plunge this year by more than they did during the 2008 financial crisis, according to new estimates from S&P Global Ratings.
Ukrainian Forces Reportedly Attack Key Russian Supply Route Into Occupied Kherson; Moscow Wages Gas ‘Price Terror' on Europe
In a separate note Tuesday, S&P estimated the suspended mortgage payments could affect 974 billion yuan of such loans — 2.5% of Chinese mortgage loans, or 0.5% of total loans. "What worries us is the scale of those support is not big enough to save the situation, [which] now turns to [a] worse direction," Liu said.
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