Bloomberg News

Moody’s Sees China 1st-Tier Property Down 20%-25% From 2011 Peak

February 07, 2012

Feb. 7 (Bloomberg) -- Property sales in first-tier Chinese cities will probably fall this year to a level 20 percent to 25 percent below their peak in March-April last year, said Peter Choy, associate managing director for Asia Corporate Finance at Moody’s Investors Service.

The percentage of bad loans among credit to small businesses will increase in 2011 as the economy slows, Christine Kuo, a senior credit officer for financial institutions, said at a meeting with reporters in Hong Kong today.

First-tier cities in China include Beijing, Shanghai and Guangzhou.

To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net

To contact the editor responsible for this story: Nathaniel Espino at nespino@bloomberg.net


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