As 2025 nears its end, state-owned and local banks are stepping up efforts to offload these foreclosed residential and commercial properties in order to clean up rising non-performing loans. Chinese media reports indicate that, as of November, at least 23 financial institutions have listed repossessed assets on major e-commerce platforms such as Alibaba and JD.com. Since summer, approximately 70,000 such properties have been put up for sale or sold—a figure that exceeds the roughly 59,000 new homes sold in Shanghai across all of 2024. These bank-owned units are collectively known as “direct-sale properties from banks.”
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