The impact of a sharp decline in real-estate prices would be far-reaching. After all, property collateral is the bedrock of the Chinese financial system, with estimates of banks’ direct and indirect exposure to real estate ranging from 66% to 89% of GDP.
房地产价格暴跌的冲击将十分深远。毕竟，物业抵押乃是中国金融系统的基石，据估计，银行在房地产上的直接和间接风险敞口大约占GDP的66%至89%。