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China Banks Say They Won’t Blame Credit Officers If Developer Loans Go Bad
Bloomberg News
Fri, April 12, 2024 at 1:52 p.m. GMT+8·3 min read
https://ca.finance.yahoo.com/news/china-banks-won-t-blame-055206395.html
(Bloomberg) -- A number of Chinese state banks are making their strongest effort yet to encourage credit officers to approve loans for developers, in a bid to heed the government’s call to prop up the embattled real estate market.
State lenders including Industrial and Commercial Bank of China Ltd. are telling the officers they won’t be held responsible if property loans eventually turn non-performing, people familiar with the matter said.
Go ahead. The more you prop up, the more devastating the crash. It's no less than what you CCP Tiongs deserve after you had snaked your way into the WTO.