The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua
The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua

Real estate moguls with a Greece-size debt problem look for hints of relief, even as China’s legislature tries to wean industry off its loans

  • Fifteen of the delegates at the ‘two session’s are developers, owning property companies with 2.44 trillion yuan (US$377 billion) of debt between them
  • All but one of the 15 developers represented are in breach of one, if not all, of the Chinese central bank’s so-called Three Red Lines capital requirements

Topic |   Two Sessions 2021 (Lianghui)
The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua
The closing meeting of the third session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing on May 27, 2020. Photo: Xinhua
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