New Delhi, Jan 23 (IANS) China’s rural banks are stuck with hundreds of foreclosed homes that couldn’t get auctioned even at steep discounts, signalling deep stress in the property sector and financial system, a report has said.The report in Modern Diplomacy said that the stress in the property sector spilled into local bank balance sheets and could widen into a major non‑performing‑asset disposal cycle.It cited UBS estimates, which showed “the volume of foreclosed properties nationwide co…
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