An emergency meeting was held this week with China’s Ministry of Housing and Urban-Rural Development, financial regulators, and major banks to discuss apparent client mortgage boycotts, according to a media report. Meanwhile, China's economic growth decreased to 0.4% over a year earlier in the latest quarter.
Chinese authorities hold emergency meetings with banks after growing alarmed that an increasing number of homebuyers across the country are refusing to pay mortgages on stalled projects https://t.co/U9WWpX5zMh
— Bloomberg (@business) July 14, 2022
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