China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60% in the hardest-hit markets, a person with knowledge of the matter told Bloomberg News. Banks were instructed to include worst-case scenarios of prices dropping 50% to 60% in cities where they have risen excessively.
February 12, 2009 Michael Pettis
March 1, 2010 WSP
March 29, 2010 WSP