China Property Market

The third quarter grows uon a quarterly basis in china down to practically zero. This was in part because of a drop in consumption, also some of the bottle ne constrains and also the common prosperity financial tightening that had already been under way. So this is a yo, more an downward provisions that could be forthcoming, given that the property market is 30 % of g d p. I do see enerising the fault rate, also for o chinese hio bonds, hedjosis him. Not systemic, but certainly in terms of sovereign risk. Mackro concerns and realyj investors confidence,. obviously, credit investors have a different place on some level in china than equity