A unit of one of China’s biggest bad-debt banks plans to woo foreign investors with a $1 billion fund for soured property loans and distressed real-estate assets, reopening the sector to outsiders after a failed attempt last decade.
That the fund is being launched just as growth in the world’s second-largest economy has slowed to an 18-month low and the housing market is losing strength is no coincidence.
via China Firm Plans $1 Billion Distressed Asset Fund for Foreigners – NYTimes.com.
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