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S&P forecasts strain for China property developers

Posted on 28 September 2011

Most of the Chinese property developers rated by Standard & Poor’s Rating Services would be able to absorb a 10% decline in property sales in 2012, but many would struggle if sales fell by 30%, the credit-ratings firm said Tuesday citing the results of a stress test it conducted.
Although S&P said a sales decline was unlikely, the comments come amid heightened concern over the fiscal health of property developers after China’s banking regulator recently asked the nation’s lightly regulated trust companies to submit details on how much they have lent to Greentown China Holdings Ltd., a Hong Kong-listed property developer……………………………………….Full Article: Source


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