30 Jul '11, 7am

Chinese banks could survive 50% property slide

BEIJING : Chinese banks could withstand a worst case scenario of a 50 per cent drop in home prices, according to stress tests conducted by regulators, a state media report claimed. "The worries and suspicions that China's banking industry will be dragged down by real estate developers are groundless and impossible," Liu Mingkang, chief of the China Banking Regulatory Commission, was quoted as telling broadcaster CCTV, the China Daily newspaper said on Saturday. He said Chinese banks would survive a house price slide of anywhere between 30 per cent and 50 per cent. The CBRC was commissioned in August 2010 to evaluate how Chinese banks would cope were property prices to slide. Prices are a major source of official and consumer concern in China with apartment costs rising out of the reach of many ordinary citizens, leading to the possibility that it could spark social unrest....

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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