China's Mortgage Crisis Worse than Pandemic: 4 State Banks Owe $11 Trillion, Near Bankruptcy
China's Mortgage Crisis Worse than Pandemic: 4 State Banks Owe $11 Trillion, Near Bankruptcy
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China’s economic downturn has begun to ripple through its banking sector, with 199 small and medium‑sized banks deregistered, merged or dissolved by early 2024—far more than in the previous three years combined. That tally included 36 credit cooperatives, 56 rural commercial banks and 100 village banks, according to Enterprise Early Warning Tong data.
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