China wants to avoid a property crash

The Chinese authorities are to require banks to disclose information before the end of June on the quality of their loan portfolios and to take steps to curb the credit risk to land developers, show Sunday Banking Regulatory Commission . The land prices have more than doubled last year in China and in Beijing, some land has reached record prices in recent months when they were bought by state-owned companies whose core business has nothing to do with real estate. The measures represent the latest step in the campaign launched by the Chinese authorities to curb the surge in bank lending and the housing prices, which may lead to an explosion of bad loans.