Chinese banks speed up bad loan sales amid economic recovery. NPL-backed securities rise 40%, real estate slump. 30% pay cuts, 5% home price decline wipes trillions.
Chinese banks accelerate bad loan sales amid rising consumer defaults in the post-COVID economic recovery. Record issuance of non-performing loan-backed securities, up 40%. Real estate meltdown hits middle-class wealth, with 30% pay cuts, stock and property losses. Households reassess money priorities, facing the impact of a 5% decline in home prices wiping out trillions in …