China’s financial market at risk of ‘distress’, RBA report warns

Evergrande Plaza

The Reserve Bank of Australia has warned fragilities in China’s financial market could trigger a collapse in confidence and wider “distress” if they are not dealt with in time.

The central bank singled out the potential failure of Chinese real estate behemoth Evergrande, but also warned its own housing market was close to overheating, in a new report assessing financial stability risks.

In its biannual financial stability review, published on October 8, the RBA noted “vulnerabilities in China

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