How China Eased Stress in Its $12 Trillion Local Credit Market
China credit is showing signs of recovery after months of distress sparked by a property debt crisis, with the already better insulated onshore market improving further after defaults declined. Authorities have been stepping in with more concrete measures to aid the real estate sector, following unprecedented mortgage boycotts, slumping home sales and mounting debt failures. A key part of the support was a new scheme that emerged last month to…