Goldman Sachs reportChinas property downturn and recent slew of defaults are unlikely to rattle overseas creditors or deter domestic banks from channelling resources towards cash-strapped developers, according to Goldman Sachs. Beijing has been calling on local governments and banks to relieve an industry-wide liquidity crunch and boost homebuyer sentiment Many of the losses have already been taken, the report points out. The share of Chinas high-yield property bonds in the Asian market has declined by over 40 per cent in the past three years to account for less than 6.5 per cent of the total market value, the US bank said in a said in a February 6 report. That number was 50 per cent at the end of 2020. https://www.scmp.com/business/banking-finance/article/3251298/china-property-defaults-wont-stop-banks-lending-cash-strapped-developers-says-goldman-sachs-report?module=top_story&pgtype=homepage