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China’s state council met with property developers, banks -source

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Reuters

SHANGHAI/BEIJING (Reuters) -China’s state council held a meeting with real estate developers and banks in the southern city of Shenzhen, a source with direct knowledge of the meeting told Reuters, amid intensifying worries over a liquidity crisis in the country’s property sector. Participants at the meeting, which took place on Monday, included China Vanke, Kaisa Group, Ping An Bank, China Citic Bank, China Construction Bank and CR Trust, according to the source. Investors are concerned about liquidity woes spreading in China’s property sector, with a string of offshore debt defaults, credit r…

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