Rising Mortgage Defaults Bring More Pain to Chinese Households

Rising Mortgage Defaults Bring More Pain to Chinese Households

Chased by debt collectors over a mortgage delinquency in a southern Chinese city, former finance worker Lei Xiaoyu no longer answers her phone as she tries to delay the inevitable. The number of Chinese in Lei’s situation is small, but rising fast, as growth in the world’s second-largest economy remains patchy and fragile due to a property sector crisis, mounting local government debt, and fears of deflation…

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TIS Staff

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