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BoE Governor On China & Bank Stress Tests

CREDIT UPDATE
BoE deputy governor Breedon pointing out that the most recent bank stress tests including the following real estate fall assumptions for Greater China:
  1. HK commercial: 50% drop
  2. HK resi: 40% fall
  3. Mainland China overall: 36% fall

Though price discovery is poor (non-existent?) in some China CRE markets right now, these figures are greater than most historic falls plus the CCP has made it clear it will do "whatever it takes" (to paraphrase) to avoid catastrophic failure.

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