After a years-long real estate slump, many smaller lenders have found themselves saddled with a portfolio of distressed assets that almost no one wants
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From Nov. 19 to Nov. 20, Inner Mongolia Rural Commercial Bank put 57 homes up for auction on Alibaba’s asset auction platform — bare-shell apartments in Hulunbuir listed at slightly below market rate. As of Nov. 28, not one had sold, and not a single user had registered to bid.
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