China widens property stress tests to steel, cement -paper

Thu Aug 5, 2010 11:48pm GMT
 

BEIJING Aug 6 (Reuters) - Chinese regulators have demanded stress tests on a wide range of industries, including cement and steel, whose fortunes are closely tied to the property market, the official Shanghai Securities News reported on Friday.

It did not provide any details about the tests, but said they were part of a broader investigation into the economy's ability to withstand falls in property prices.

China's banking regulator has ordered lenders to test the impact of an up to 50 percent fall in house prices in key cities where prices have risen sharply, banking and regulatory sources said on Thursday. [ID:nTOE674014] (Reporting by Simon Rabinovitch; Editing by Jonathan Hopfner)

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