SHANGHAI/BEIJING : China's banking regulator is scrutinising property sector loan portfolios of some local and foreign lenders to assess systemic risks, sources with knowledge of the matter said, as the real estate sector's debt crisis worsens.
The move comes as policymakers have been trying to stabilise the property sector that accounts for a quarter of the economy after a string of defaults among developers on their bond repayments and a slump in home sales. The debt crisis in China's property sector worsened in recent weeks after a large number of homebuyers threatened to stop making their mortgage payments for stalled property projects, aggravating a crisis that has already hit the economy and could lead to social instability.
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