In the Chinese economic transition, continued urbanization process and housing monetization will promote the development of real estate industry, so the real estate industry will be one of the important pillar industries for a long period of time in future. Second, Housing is related to people’s lives.
At the same time, banks will benefit from the reforms in the institutional framework for private debt management already made (e.g. acceleration of liquidation of banks’ collateral via electronic auctions, creation of a secondary market for NPLs, etc.) and the reforms that are underway (e.g. modernisation of the insolvency regime for households and firms).